Circle rates for Delhi properties hiked
Dikshit said circle rates were increased as last hike was effected in November, 2011.
"The current rates are quite less than the prevailing market rates at which transactions are taking place. That is why we decided to hike it," Dikshit said adding, "In order to curb the flow of black money, it has become important to rationalise the minimum circle rates."
She said the Cabinet took a sympathetic view in effecting hike of the rates in colonies under categories C,D,E,F,G and H.
For C category colonies, the circle rate has been hiked to Rs 1,33,224 per square metre from current Rs 1,09,200 while in neighbourhoods under Category D the new rates will be Rs 1,06,384 as against existing rate of Rs 87,200.
The rate for colonies under category E has been hiked from Rs 47,840 to Rs 58,365 per square metre while for F category colonies the rate will be Rs 47,140 as against current rate of Rs 38,640.
In respect of category G colonies, the new rate will be Rs 38,442 per square metre as against existing Rs 31,510 while for H category colonies it has been hiked to Rs 19,361 from Rs 15,870.
The circle rates were first introduced in Delhi in 2007, dividing the capital into eight categories, and were notified under the provisions of the Delhi Stamp (Prevention of Undervaluation of Instruments) Rules, 2007 on July 18, 2007.
'No immediate impact of hike in circle rate on realty prices'
Developers and realty consultants today said there will be no immediate impact on