Delhi government cuts circle rates of properties by 20 per cent
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The circle rates related to residential, commercial and industrial properties in Delhi have been reduced by flat 20 per cent across all categories of colonies and areas till September 30, 2021, a city government official said.
Boost for real estate: Delhi govt cuts property circle rates by 20% for six months
NEW DELHI: The Delhi government on Friday reduced the circle rate by 20% across property categories for the next six months, a move that real estate experts said would spur demand at a time when the sector is struggling
Industry experts said that in upscale south Delhi areas such as Maharani Bagh, Vasant Vihar, New Friends Colony and Panchsheel Park, the circle rate was higher than the market rate and many sellers were thus unable to slash prices, fearing penalties from the tax authorities.
Delhi Cabinet nod to reduction in property circle rates by 20% for 6 months
By IANS |
Published on
Fri, Feb 5 2021 21:27 IST |
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SC asks banks to finalise proposals to finance unfinished Amrapali projects. Image Source: IANS News
New Delhi, Feb 5 : The Delhi Government on Friday announced a 20% reduction in the current circle rates on properties by a 20% in the national capital. According to information received from the Delhi government, a decision in this regard has been taken in a cabinet meeting chaired by Chief Minister Arvind Kejriwal on Friday. The proposal of reducing the circle rates of residential, commercial, industrial and other properties in Delhi by 20% for the next six months was approved. A reduction of 20% in the circle rate would have an impact close to reduction by 1% in the stamp duty or registration charges. The department was directed to do an exercise accordingly, the Delhi Chief Minister stated in an official statement issued