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Delhi: Circle rates of properties doubled

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NEW DELHI: The Delhi cabinet on Tuesday doubled the circle rates of properties - the minimum selling price of a plot - in the capital to generate more revenue .

In its decision June 14, the cabinet had massively hiked the circle rates based on localities/colonies instead of the existing basis of unit area method and associated categorisation of colonies from A to H Category. But the matter was put on hold after ministers differed on it.

Chaired by Chief Minister Sheila Dikshit, Tuesday's meeting agreed to continue with the earlier existing categorisation by the Municipal Corporation of Delhi (MCD).

"The Delhi cabinet decided to double the circle rates of properties," Dikshit told reporters after the meeting at her residence.

She added that the decision was also taken to mitigate black money circulation in property transaction.

The existing circle rates were introduced in Delhi in 2007.

Public Works Department (PWD) Minister Raj Kumar Chauhan told IANS that circle rates are still lower in the capital than in neighbouring Noida and Gurgaon, adding that the new rates will come into force following a notification after Lieutenant Governor Tejendra Khanna's assent.

The previous circle rates based on the Municipal Corporation of Delhi (MCD) categorisation were Rs.43,000 per sq metre for Category A, Rs.34,100 for Category B, Rs.27,300 for Category C, Rs.21,800 for Category D, Rs.18,400 for Category E, Rs.16,100 for Category F, Rs.13,700 for Category G and Rs.6,900 for Category H.

Now, Category A will be priced at Rs.86,000 per sq metre while the lowest - Category H - will have a fixed price of Rs.13,800.

As per the proposal accepted by the cabinet June 14, the circle rates ranged between Rs.9,000 and Rs.1.25 lakh per sq metre.

The issue became more complicated after a committee formed to study the new circle rates decided to hike rates for some more colonies, including that of Chauhan's Bhera Enclave - a northwest area.

Following this, the Delhi government Aug 30 decided to seek public opinion on the issue of revised circle rates after discussing the committee report. The report had decided to raise the circle rates of some colonies.

The cabinet on Monday decided to defer further decision on the matter.

Source - The Economic Times


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