Tweet
Registering property in Delhi may soon get dearer. After making substantial increase in circle rates of property in February, the Sheila Dik**** Government is again planning to increase circle rates by 100-200 per cent for properties in posh colonies, while it may be between 50 and 60 per cent for unauthorised colonies of the Capital.
Sources told The Pioneer that Chief Minister Sheila Dik**** was reported to have given her nod to bring a proposal on the issue before the Cabinet. The draft proposes 100-200 per cent increase in circle rates for colonies falling under categories A and B, while for categories C and D, it can vary between 50-100 per cent. For areas falling under E, F, G and H categories, the increase in circle rates would be 50-60 per cent.
Circle rate is the minimum price at which the property can be sold or bought in an area. How much stamp duty and registration fee the buyer has to pay depends on the prevailing circle rates. While some property dealers indicated these could increase by 10 to 12 per cent, others anticipated only a marginal impact, as the market rates were already much higher than the revised structure in many places. Experts noted that neighbouring Haryana and Uttar Pradesh revised their circle rates frequently.
Revenue Minister Ashok Kumar Walia said the proposal would soon be brought to the Delhi Cabinet for approval. While refusing to divulge details, which he said could only be disclosed after the Cabinet approved it, Walia said the exiting circle rates were far less than the market price of properties and required immediate revision.
“When circle rates were first introduced in the Capital in 2007, we had decided that it would be revised in three years... when people can buy properties worth crores of rupees in Delhi, they can pay some revenue to the Government too,” said a senior official of Revenue Department.
It may be noted that the issue of circle rate had become a bone of contention between Lieutenant Governor Tejender Khanna and Chief Minister Sheila Dik**** last year. Due to the controversy, the Cabinet decision was postponed for at least six months as Lieutenant Governor had refused to notify the increased rates. Finally, it was notified in February 8 this year.
Currently, the circle rate is fixed at Rs 86,000 per sqm for category A; Rs 68,200 for B; Rs 54,600 for C and Rs 43,600 for D. For colonies falling in category E, F, G, H, the rate will be Rs 36,800, Rs 32,200, Rs 27,400 and Rs 13,800 respectively.
Sources told The Pioneer that Chief Minister Sheila Dik**** was reported to have given her nod to bring a proposal on the issue before the Cabinet. The draft proposes 100-200 per cent increase in circle rates for colonies falling under categories A and B, while for categories C and D, it can vary between 50-100 per cent. For areas falling under E, F, G and H categories, the increase in circle rates would be 50-60 per cent.
Circle rate is the minimum price at which the property can be sold or bought in an area. How much stamp duty and registration fee the buyer has to pay depends on the prevailing circle rates. While some property dealers indicated these could increase by 10 to 12 per cent, others anticipated only a marginal impact, as the market rates were already much higher than the revised structure in many places. Experts noted that neighbouring Haryana and Uttar Pradesh revised their circle rates frequently.
Revenue Minister Ashok Kumar Walia said the proposal would soon be brought to the Delhi Cabinet for approval. While refusing to divulge details, which he said could only be disclosed after the Cabinet approved it, Walia said the exiting circle rates were far less than the market price of properties and required immediate revision.
“When circle rates were first introduced in the Capital in 2007, we had decided that it would be revised in three years... when people can buy properties worth crores of rupees in Delhi, they can pay some revenue to the Government too,” said a senior official of Revenue Department.
It may be noted that the issue of circle rate had become a bone of contention between Lieutenant Governor Tejender Khanna and Chief Minister Sheila Dik**** last year. Due to the controversy, the Cabinet decision was postponed for at least six months as Lieutenant Governor had refused to notify the increased rates. Finally, it was notified in February 8 this year.
Currently, the circle rate is fixed at Rs 86,000 per sqm for category A; Rs 68,200 for B; Rs 54,600 for C and Rs 43,600 for D. For colonies falling in category E, F, G, H, the rate will be Rs 36,800, Rs 32,200, Rs 27,400 and Rs 13,800 respectively.
