Home prices to go up as govt hikes circle rate
24 Sept 2014 5:11 AM IST
The circle rates, minimum valuation at which properties have to be registered with the government, were last revised in November 2012. The new rates will be effective from today. The move is likely to push up property prices in the city.
It is expected that after implementation of this hike, the city government will earn an additional revenue of more than Rs 250 crore in the remaining six months of current financial year.
The revised rates in posh category A colonies, will be Rs 7,74,000 per square metre while the present rate is Rs 6,45,000 per square metre, said a government statement.
Colonies like Vasant Vihar, Jor Bagh, Friends Colony among other fall in the A category.
In category B colonies, the present circle rate of Rs 2,04, 600 per square metre will be revised to Rs 2,45,520 per square metre.
The category B colonies include Greater Kailash 1 and 2, Neeti Bagh, Hauz Khas, Green Park and others.
The revised circle rate in category C colonies will be Rs 1,59,840 against the prevailing rate of Rs 1,09,200 per square metre.
Areas like Saket, Kailash Hills, East of Kailash belong to C category. In category D colonies, where the current circle rate is Rs 1,06,384, the revised rate will be Rs 1,27,680 per square metre.
In category E colonies, the prevailing circle rate of Rs 58,365 per square metre will be raised to Rs 70,080 while in category F colonies the present rate of Rs 47,140 will now be increased to Rs 56,640.
The revised rates of category G colonies will be Rs 46,200. The prevailing rate is Rs 31,510 per square metre. In category H colonies, the revised circle rate will be Rs 23,280 per square metre, from Rs 19,361 per square metre.
According to government notification, for upto 30 square meters of flat, the circle rate is fixed at Rs 50,400 per square meter for DDA flats, while for flat having area between 30 and 50 square meters, the rate is fixed at Rs 54,480 per square meter. For flats with area above 100 meters , the new circle rate is Rs 76,200.
The last circle rate revision happened in 2012. The circle rates in Delhi were first time introduced on 17 July, 2007. The substantial hike was scheduled to take place this year to boost the revenue of the city government.
It is expected that after implementation of this hike, the city government will earn an additional revenue of more than Rs 250 crore in the remaining six months of current financial year.
The revised rates in posh category A colonies, will be Rs 7,74,000 per square metre while the present rate is Rs 6,45,000 per square metre, said a government statement.
Colonies like Vasant Vihar, Jor Bagh, Friends Colony among other fall in the A category.
In category B colonies, the present circle rate of Rs 2,04, 600 per square metre will be revised to Rs 2,45,520 per square metre.
The category B colonies include Greater Kailash 1 and 2, Neeti Bagh, Hauz Khas, Green Park and others.
The revised circle rate in category C colonies will be Rs 1,59,840 against the prevailing rate of Rs 1,09,200 per square metre.
Areas like Saket, Kailash Hills, East of Kailash belong to C category. In category D colonies, where the current circle rate is Rs 1,06,384, the revised rate will be Rs 1,27,680 per square metre.
In category E colonies, the prevailing circle rate of Rs 58,365 per square metre will be raised to Rs 70,080 while in category F colonies the present rate of Rs 47,140 will now be increased to Rs 56,640.
The revised rates of category G colonies will be Rs 46,200. The prevailing rate is Rs 31,510 per square metre. In category H colonies, the revised circle rate will be Rs 23,280 per square metre, from Rs 19,361 per square metre.
According to government notification, for upto 30 square meters of flat, the circle rate is fixed at Rs 50,400 per square meter for DDA flats, while for flat having area between 30 and 50 square meters, the rate is fixed at Rs 54,480 per square meter. For flats with area above 100 meters , the new circle rate is Rs 76,200.
The last circle rate revision happened in 2012. The circle rates in Delhi were first time introduced on 17 July, 2007. The substantial hike was scheduled to take place this year to boost the revenue of the city government.
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