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The Delhi government has initiated the revision of circle rates for land and properties across the city, a step that comes more than a decade after the last update in 2014. The move is intended to align property valuations with current market conditions and improve transparency in transactions. Public feedback is being sought within the next 15 days, with individuals, resident welfare associations (RWAs), industry bodies, and property owners encouraged to share suggestions via email. The process follows earlier attempts by the previous government and includes guidelines for different property categories.
The Delhi government has started the process to revise circle rates for properties throughout the city. The last revision was carried out in 2014, and since then, property prices in Delhi have increased substantially. Officials said the revision is aimed at bringing the notified rates closer to the current market levels and ensuring transparency in property transactions. Advertisement
A circular issued by the revenue secretary and divisional commissioner noted that the government is revising circle rates for various property categories. The notification invites public suggestions within the next 15 days, which will be reviewed before proposing revised rates. The process is expected to conclude within the next couple of months.
Stakeholders, including individuals, RWAs, industry associations, and property owners, can submit feedback via email at "suggestionondelhicirclerates@gmail.com." They may refer to the existing notifications from 2008 for agricultural land and riverbed land and 2014 for other immovable properties before providing their input.
The circle rates determine the minimum value at which a property can be registered and are used to calculate stamp duty under the Indian Stamp Act. Delhi classifies properties into eight categories, A through H, based on the level of civic infrastructure. Current rates range from INR 7,74,000 per square metre for 'A' category colonies to INR 23,280 per square metre for 'H' category. Rates for other categories include INR 2,45,520 for 'B', INR 1,59,840 for 'C', INR 1,27,680 for 'D', INR 70,080 for 'E', INR 56,640 for 'F', and INR 46,200 for 'G'.
For public utility, industrial, and commercial land, circle rates are calculated using a multiplying factor: 2 for public utility and industrial, and 3 for commercial purposes. Agricultural land was last revised to INR 53 lakh per acre in 2008.
Earlier this year, a committee headed by the divisional commissioner was formed to recommend circle rate revisions based on current market conditions and property valuations. This committee's report will serve as the basis for the new rates. The revision process was initially started by the previous government but remained unfinished due to various reasons, even as market values increased sharply.
Source PTI
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