Saturday, 24 November 2012

Property prices in Delhi may increase due to circle price hike

Delhi Government hikes circle rates (setting the minimum value of immovable property) up to 200%. This is for preventing black money dealing while buying or selling of properties.

By hiking this property circle value, nobody can buy a property from a particular circle below the circle rate. This is helpful to reduce black money (liquid cash) payment while buying properties and prevent the registration of the sale deed below the circle rate.

The rate of properties in category A have increased by 200 per cent and in Category B has been increased by 50% and other categories increased by 22% of the present circle rate.

The cabinet decided to fix Rs. 2,04,600 per square meter for B Cricle rate of property in delhicategory colonies and the present rate is Rs. 1,36,400 per square meter. Through this increased circle rate the Gov’t of Delhi expect an additional revenue  Rs. 200 crore per year.

But for the colonies under categories C,D,E,F,G and H,  category C colonies, the circle rate has hiked to Rs. 1,33,224 per square meter from present Rs. 1,09,200,  Category D the new rates will be Rs. 1,06,384 as against the current rate of Rs. 87,200.

Colonies under category E has been hiked from Rs. 47,840 to Rs. 58,365 per square meter and  for F category colonies the rate will be Rs. 47,140. The present rate is Rs. 38,640.

For Category G colonies, the new rate will be Rs. 38,442 per square meter as against present Rs. 31,510 and for H category colonies it has hiked to Rs. 19,361 from Rs. 15,870.

With the above mentioned increased circle rate , the value of property in Delhi will be increased

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