E - PAPER

CURRENT MONTH

LAST MONTH

VIEW ALL
  • HOME
  • NEWS ROOM
  • COVER STORY
  • INTERVIEWS
  • DRAWING BOARD
  • PROJECT WATCH
  • SPOTLIGHT
  • BUILDING BLOCKS
  • BRAND SYNC
  • VIDEOS
  • HAPPENINGS
  • E-MAGAZINE
  • EVENTS
search
  1. Home
  2. News/Views

Delhi Government Discontinues Rebate on Circle Rates

Delhi Government Discontinues Rebate on Circle Rates

BY Realty Plus
Published - Saturday, 02 Jul, 2022
Delhi Government Discontinues Rebate on Circle Rates

Property transactions in the city will become costlier as the Delhi government has decided to discontinue the 20 per cent rebate on circle rates from July 1. The decision was taken by the government as as the impact of the Covid pandemic has subsided and the economy of the city is recovering fast, they said.

"The competent authority has decided to discontinue the relaxation of 20 percent in cricle rates beyond June 30. The circle rates notified on September 20, 2014 will be applicable from July 1," said an order issued by the revenue department of Delhi government.

The Arvind Kejriwal government had introduced the rebate scheme in February 2021 to revive the economy and help people hit by the impact of the Covid lockdown. The scheme was extended till June 30 by the government in December last year.

According to revenue department officials, properties in Delhi are divided into eight categories from 'A' to 'H'. While posh areas fall under the 'A' category, the least developed areas come under the 'H' category. Under the government's rebate scheme, the existing circle rate of land in 'A' category areas had gone down from Rs 7.74 lakh per square metre to Rs 6.19 lakh.

In 'H' category areas, the circle rate was reduced from Rs 23,280 to Rs 18,624 per square metre, they said. The circle rates, in square per meter, of the eight categories as notified in 2014 are Rs 7.74 lakh for 'A', Rs 2.46 lakh for 'B', Rs 1.60 lakh for 'C', Rs 1.28 lakh for 'D', Rs 70,080 for 'E', Rs 56,640 for 'F', Rs 46,200 for 'G' and Rs 23,280 for 'H' category.

"The revenue department was asked by the minister in-charge to suggest if the rebate needed to be extended or discontinued. It was found that the economy is recovering with all its segments returning back to the pre-Covid levels with increased revenue generation," said a senior government officer.

The rebate of 20 per cent was allowed to all categories of properties in housing, commercial and industrial segments to revive the real estate sector and help recovery of industrial and trade activites, he said. The scheme was successful as it raised the numbers of property transactions and increased stamp duty revenue despite the 20 per cent rebate on circle rates.

The rebate scheme boosted finances of the the government with property registration revenue rising from Rs 3,552 crore in 2020-21 to Rs 4,997 crore in 2021-22 despite the sluggish economic activites due to Covid.

RELATED STORY VIEW MORE

Adani Makes Significant Acquisitions of HDIL’s BKC & Shahad Land Assets
Dombivli Scam Effect: Statewide Verification Of Developer-Submitted OCs
Bengaluru Remains Office Hub of India With Highest Space Leasing

TOP STORY VIEW MORE

Samruddhi Mahamarg: Catalyst for Economic Transformation

As per Aayush Madhusudan Agrawal, Founder & Director Inspira Realty, the 701 km six-lane expressway is not just a road, but an economic corridor.

04 July, 2025

Malabar Gold & Diamonds Opens its Largest Manufacturing Site In Hyderabad

04 July, 2025

Navi Mumbai Major Milestone: Raheja Universal Rs 1,726 Cr Sales of Solaris Project

04 July, 2025

NEWS LETTER

Subscribe for our news letter


E - PAPER


  • CURRENT MONTH

  • LAST MONTH

Subscribe To Realty+ online




Get connected with us on social networks!
ABOUT REALTY+

Started in 2004, Realty+, an exchange4media group publication is one of the most respected real estate magazines in India with offices in Delhi, Mumbai and Bengaluru.

Useful links

HOME

NEWS ROOM

COVER STORY

INTERVIEWS

DRAWING BOARD

PROJECT WATCH

SPOTLIGHT

BUILDING BLOCKS

BRAND SYNC

VIDEOS

HAPPENINGS

E-MAGAZINE

EVENTS

OTHER LINKS

TERMS AND CONDITIONS

PRIVACY-POLICY

COOKIE-POLICY

GDPR-COMPLIANCE

SITE MAP

REFUND POLICY

Contact

Mediasset Holdings 3'rd Floor, D-40, Sector-2, Noida (Uttar Pradesh), Pincode - 201301

tripti@exchange4media.com
realtyplus@exchange4media.com

+91 98200 10226


Copyright © 2024 Mediasset Holdings.
Rental Mobil bandung,Sewa Mobil Bandung, Rental bandung, Sewa Mobil, Jual Mesin Antrian, Harga Mesin Antrian, Mesin Antrian Murah, Jual KIOSK,Mesin Antri, Berita Terkini, Info Bray,Info Tempat Wisata,Portal Berita,Jasa Website