Delhi circle rates go up by 100 pc -Governance Now

Delhi circle rates go up by 100 pc

Rates increased for the first time since 2007 introduction

Jasleen Kaur | October 12, 2010

The Delhi government on Monday decided to increase circle rates, used for valuation of land and immovable properties for the purpose of chargeability of the stamp duty on the instruments, by 100 percent.

Chief minister Sheila Dikshit said that the existing rates have been increased in order to check the black money being pumped into property transactions in the city.

The rates have been increased for the first time since their introduction in 2007. They were notified under the provisions of the Delhi Stamp (Prevention of Undervaluation of Instruments) Rules, 2007 on July 18, 2007. The rates were notified then to simplify the assessment of the Stamp Duty and bring in transparency, simplicity and efficiency in the process of registration.

Dikshit added that the revision in circle rates will help in curbing the prevailing undervaluation of properties.

Circle rates in the national capital region (NCR) have been hiked frequently, especially in Noida and Gurgaon. The new rates will come into force after issue of notification.

Before the hike the circle rates based on the MCD categorisation for the Residential Property Tax were Rs.43,000/- per sq. meter 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/- per sq. meter for Category H.

Comments

Other News

Report of India’s G20 Task Force on Digital Public Infrastructure released

The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi on Monday. The Task Force was led by the

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Budget expectations, from job creation to tax reforms…

With the return of the NDA to power in the recently concluded Lok Sabha elections, all eyes are now on finance minister Nirmala Sitharaman’s full budget for the FY 2024-25. The interim budget presented in February was a typical vote-on-accounts, allowing the outgoing government to manage expenses in

How to transform rural landscapes, design 5G intelligent villages

Futuristic technologies such as 5G are already here. While urban users are reaping their benefits, these technologies also have a potential to transform rural areas. How to unleash that potential is the question. That was the focus of a workshop – “Transforming Rural Landscape:

PM Modi visits Rosatom Pavilion at VDNKh in Moscow

Prime minister Narendra Modi, accompanied by president Vladimir Putin, visited the All Russian Exhibition Centre, VDNKh, in Moscow Tuesday. The two leaders toured the Rosatom Pavilion at VDNKh. The Rosatom pavilion, inaugurated in November 2023, is one of the largest exhibitions on the histo

Let us pledge to do what we can for environment: President

President Droupadi Murmu on Monday morning spent some time at the sea beach of the holy city of Puri, a day after participating in the annual Rath Yatra. Later she penned her thoughts about the experience of being in close commune with nature. In a message posted on X, she said: