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Delhi Govt. Ends 20% Relaxation On Circle Rate, Property Transactions To Become Costly
As per the order from the Delhi government on June 30, there shall be made no extension of rebate on circle rate for another six months on land and other immovable property. Likewise, property transactions in the National Capital shall become dearer with effect from July 1, 2022.
The order from the Delhi government said, "Competent Authority has decided to discontinue the relaxation of 20% in circle rates beyond 30.6. 2022." Circle rates as notified under the 2014 notification shall be applicable from July 1, 2022, it added.
In a bid to give fillip to the ailing real estate industry in Delhi, the government of Delhi last year on December 31st extended the 20% rebate on circle rates for land and immovable property.
Circle rates are different in different states and are changed from time to time considering the demand, supply, and other indicators of the concerned area
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