New Delhi: New slab of circle rates of properties will come into effect in the national capital from Wednesday which will make sale and purchase of properties costlier. JPN/Bureau
The Delhi government has issued notification on Tuesday to bring into practice its decision of increase in circle rates.
While there is 200 percent increase in the circle rate of Category A colonies, the circle rates of Category B colonies have increased by 50 percent. The circle rate of Categories C, D, E, F, G and H colonies have been increased by almost 22 per cent with the new notification.
Notably, circle rates of properties had been hiked twice in the year 2011. First hike was made in February 2011 by 100 per cent and the other one in November 2011 by 250 per cent.
In the past, an increase of 250 per cent was made in the circle rates of Category A colonies in capital by the Delhi cabinet.
Apart from this, an increase of 100 per cent in the circle rate of Category B, C and D colonies was made. The circle rates of Category E colonies and Category H colonies were increased by 20 per cent and 15 per cent respectively.
The circle rates were implemented in the capital for the first time in 2007. Delhi Revenue Secretary Dharampal, while confirming the implementation of revised circle rates from Wednesday said that the government is estimating an extra income of around 300 crore in the 2012-2013 fiscal and Rs 2300 crore revenue collection from stamp duty by the end of this fiscal.
New Delhi: New slab of circle rates of properties will come into effect in the national capital from Wednesday which will make sale and purchase of properties costlier.