Delhi govt plans to extend 20% discount on property circle rates for six months

NEW DELHI: The Delhi government is planning to extend the 20% discount offered on circle rates of properties in the national Capital for six more months, Delhi’s revenue minister Kailash Gahlot said on Wednesday.

On February 5, 2021, the Delhi government had reduced circle rates for all categories of properties-residential, commercial and industrial-- by 20% till September 30, 2021. The government’s decision was aimed at boosting the economy in the national Capital after it came to a standstill during the Covid-19 pandemic-induced lockdown. Since September 2021, the relaxation has been extended several times and the current extension is valid till June 30, 2022.

“A proposal is being sent to chief minister (CM) Arvind Kejriwal and lieutenant governor (LG) Vinai Kumar Saxena to extend the 20% discount on circle rates for six more months,” Gahlot said.

If approved by the CM and the LG, the discount on the circle rates will continue till December 31, 2022. In case the CM or the LG disapproves of the proposal, the decision will affect the process of buying a property--and hike up the registration fee.

Circle rates in each state vary and are revised from time to time, depending on supply, demand and other development indicators pertaining to the areas concerned. Delhi has eight categories of localities – from A to H – with Category A the most affluent, and Category H the most economically weak. Neighbourhoods such as Golf Links, Vasant Vihar and Jor Bagh are part of Category A, while localities such as Greater Kailash, Defence Colony are part of Category B. Tagore Garden and Subhash Nagar are part of Category C, while categories D and E mostly comprise localities where low-income and mid-income flats were developed and resettlement colonies. Categories F, G and H comprise mostly unauthorised colonies.

A proposal is being sent to CM Kejriwal and LG Saxena to extend the 20% discount on circle rates. revenue minister