20% circle rate rebate to go on till Dec 31: CM

NEW DELHI: The Delhi government’s current scheme of 20% reduced circle rates for all categories of properties, which was to be in effect till September 30, was on Thursday extended till December 31, said chief minister Arvind Kejriwal.

He said in a tweet, “The 20% rebate on circle rates would continue. We will not let Delhi residents suffer during the pandemic. We stand with them.”

Circle rates are the minimum price at which a property can be bought or sold. The move is aimed at boosting the real estate market and increasing government revenue.

Earlier in the day, state revenue minister Kailash Gahlot shared a copy of the order extending the scheme till December 31, and said: “With the city slowly recovering from the aftermath of Covid-19, here is another good news for Delhiites: We have further extended the 20% slash in circle rates till December 31, 2021.”

On Wednesday, Hindustan Times published a report saying the scheme will most likely be extended till December 31.

On February 5, the Delhi government reduced circle rates for all categories of properties for a period till September 30. Circle rates were reduced by 20% for residential, commercial and industrial properties across all categories of localities.

Circle rates vary in each state and are revised from time to time depending on demand, supply and other development indicators pertaining to the area concerned.

Delhi broadly has eight categories of localities – from A to H – with Category A being the most affluent and Category H being the most economically weak.

For instance, in a Category A locality, the circle rate for a residential property so far was ₹7,74,000 per square metre and for one in a Category H locality was ₹23,280 per square metre.