Circle Rates In Delhi Slashed By 20% For 6 Months

To provide a fillip to the ailing real estate sector, on Friday Delhi government slashed circle rates of properties by 20 percent for the next six months across all segments. The decision to this effect was taken during the Cabinet meet headed by Chief Minister Arvind Kejriwal. Deputy Chief Minister of Delhi Manish Sisodia made a remark that the decision shall come as a big relief to those willing to purchase property in the national capital.

"Circle Rates of Residential/Commercial/Industrial Properties in Delhi reduced by 20% across all categories for next 6 months. This would be a big relief for people willing to buy property and a big boost up for Real estate sector," tweeted Sisodia.

A big decision by Hon CM @ArvindKejriwal. Circle Rates of Residential/Commercial/Industrial Properties in Delhi reduced by 20% across all categories for next 6 months. This would be a big relief for people willing to buy property and a big boost up for Real estate sector.

— Manish Sisodia (@msisodia) February 5, 2021

Circle rate is a minimum rate at which the property at the time of transfer of title i.e. sale or purchase is registered. State governments on a time to time basis fix these rates and metro cities are seen to get these rates revised more often.Within the same state, circle rates vary for different cities. Even for a same city, circle rates may be different for different localities as per the market dynamics.

Kejriwal in his tweet said " I am sure this step will help in giving a boost to economy post COVID".

I am sure this step will help in giving a boost to economy post COVID. https://t.co/vdgQXXcGhc

— Arvind Kejriwal (@ArvindKejriwal) February 5, 2021

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