Check out the circle rates in Delhi for flats, plots, multi-storey apartments in DDA and private colonies
State governments decide the circle rates for cities. These circle rates are the minimum property prices at which the sale of a property can take place. Circle rates in New Delhi are decided by the Delhi government. Usually, New Delhi circle rates are reviewed annually, to keep them in line with the market rates.
Circle rate cuts in Delhi in 2021
Delhi extends circle rate reduction till December 31, 2021
The Delhi government, on September 30, 2021, extended the 20% rebate in circle rates for a further three months, till December 31, 2021. The move by the chief minister Arvind Kejriwal-led government, could boost buyer sentiments, at a time when the festival season is likely to increase demand for residential property.
“The 20% rebate in circle rates will continue. We will not let anything trouble Delhi people during this pandemic. In this time of epidemic, people of Delhi will not be allowed to face any problem. Will stand with the people of Delhi on every front and every step,” CM Kejriwal said on Twitter.
The reduction in circle rates (the rate of land or property which acts as the threshold below which the property cannot be registered) in Delhi has not been able to boost the demand for property in the national capital on the expected lines, as reported in the media. Based on this fact, the industry has also been demanding that the Delhi government reduce stamp duty on property purchases to boost sales.
Earlier, in a move to increase revenue generation for the union territory, the Delhi government had planned to revise the circle rates of properties across categories in the national capital. In fact, the CM Arvind Kejriwal-led government had asking a committee of officials from the Revenue Department to evaluate the circle rates and submit its report to the government within a month. The government had also sought feedback from the public over its move to revise circle rates.
The scheme to cut circle rates by 20% was launched by the Delhi government in February 2021, to boost demand for housing at a time when the COVID-19 pandemic had severely impacted sales, and was applicable till September 30, 2021. The reduction was also applicable across all categories of properties, including residential, commercial and industrial buildings. The decision was taken in a cabinet meeting of the union territory government on February 5, 2021. The Delhi government last increased circle rates in 2014.
Earlier, finance minister Nirmala Sitharaman, in the Union Budget 2021-22, had allowed home buyers to buy homes at 20% lower value than the circle rates, without attracting additional tax liability. This new norm will be applicable to properties priced below Rs 2 crores, till June 30, 2021.
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Home buyers and investors should know that the property registration process in Delhi and charges such as stamp duty, are based on the higher of the declared property value and the price calculated as per circle rate applicable for the sector or area of Delhi.
How to calculate circle rates in Delhi?
Usually, commercial properties have higher circle rates, as compared to residential properties. It may also vary, based on the type and age of the property. Properties built after the year 2000 have a maximum multiplier of 1 while the older buildings have it in the range of 0.5-0.9.
You can calculate the circle rates in Delhi by visiting the Delhi government’s online registration information system.
Alternatively, you can follow the below steps to calculate the circle rate in Delhi.
Step 1: Determine whether the property is used for residential or commercial purpose.
Step 2: Consider the type of property – whether it is a flat, apartment, independent house, or a plot of land. The circle rates of different property types vary, even if they fall in the same area.
Step 3: Factor in the ‘age multiplier’ to arrive at property valuation and determine the circle rate accordingly.
| Type of property | How to calculate |
| Independent plot | Multiply the plot area with the applicable circle rate (in Rs/sq metre). |
| Builder floors, DDA flats, society flats | Multiply the minimum construction cost with the built-up area (in sq metres). Now, multiply the product with the applicable age factor. |
| For multi-storey flats | Multiply the flat’s built-up area with the applicable circle rates for the multi-storeyed flats (in Rs/sq metre). |
| For house constructed on a plot | Multiply the plot area with the applicable circle rate for the land in the respective locality. Multiply the house’s built-up area with the minimum construction cost. Multiply the product with the applicable age factor for the construction. |
How to calculate property value in Delhi using circle rate?
Here is how to calculate the property value, using the circle rate:
- Ascertain the property’s built-up area, plot area, age of construction, amenities, floors, etc.
- Choose the type of property (residential or commercial unit, plot, house, apartment, builder floor, or shop).
- Select the locality of the property
- Calculate the minimum assessment figure as per the circle rates given
The formula for calculating the property value is as given below:
Property value = Built-up area (in sq metres) x circle rate for the locality (in Rs per sq metre).
Circle rates – age factor in New Delhi
| Factor | Rate |
| Pre-1960 | 0.5 |
| 1960-69 | 0.6 |
| 1970-79 | 0.7 |
| 1980-89 | 0.8 |
| 1990-1999 | 0.9 |
| 2000 onwards | 1 |
Circle rates for flats in New Delhi
| Area | DDA, society flats (per sq metre) | Private builder flats (per sq metre) | Multiplying factors for private colonies |
| Up to 30 sq metres | Rs 50,400 | Rs 55,400 | 1.1 |
| 30-50 sq metres | Rs 54,480 | Rs 62,652 | 1.15 |
| 50-100 sq metres | Rs 66,240 | Rs 79,488 | 1.2 |
| More than 100 sq metres | Rs 76,200 | Rs 95,250 | 1.25 |
| Multi-storey apartment | Rs 87,840 | Rs 1.1 lakhs | 1.25 |
Circle rates for residential and commercial plots in New Delhi
To ease the process and keep it uniform across the city, the Delhi government has divided the properties in Delhi into eight categories – A to H. Delhi’s most expensive posh areas are in Category A while Category H has the lowest-value areas of the city.
| Category | Land cost (per sq metre) | Construction cost: Residential (per sq metre) | Construction cost: Commercial (per sq metre) |
| A | Rs 7.74 lakhs | Rs 21,960 | Rs 25,200 |
| B | Rs 2.46 lakhs | Rs 17,400 | Rs 19,920 |
| C | Rs 1.6 lakhs | Rs 13,920 | Rs 15,960 |
| D | Rs 1.28 lakhs | Rs 11,160 | Rs 12,840 |
| E | Rs 70,080 | Rs 9,360 | Rs 10,800 |
| F | Rs 56,640 | Rs 8,220 | Rs 9,480 |
| G | Rs 46,200 | Rs 6,960 | Rs 8,040 |
| H | Rs 23,280 | Rs 3,480 | Rs 3,960 |
Circle rates for agricultural land in New Delhi
In December 2019, the Delhi government announced a 10-fold hike in circle rates for agricultural land in Delhi. The circle rate for agricultural land has been increased from Rs 53 lakhs per acre to Rs 2.25-5 crores per acre, depending upon the area.
| District | Green belt villages (in Rs crore per acre) | Urbanised villages (in Rs crore per acre) | Rural villages (in Rs crore per acre) |
| South | 5 | 5 | 5 |
| North | 3 | 3 | 3 |
| West | 3 | 3 | 3 |
| North-west | 3 | 3 | 3 |
| South-west | 3 | 4 | 3 |
| New Delhi | 5 | 5 | 5 |
| Central | NA | 2.5 | 2.5 |
| South-east | NA | 4 | 2.5 |
| Shahdara | 2.3 | 2.3 | 2.3 |
| North-east | NA | 2.3 | 2.3 |
| East | NA | 2.3 | 2.3 |
List of colonies in Delhi by category
| Area | Category |
| Friends Colony East | Category A |
| Friends Colony West | Category A |
| Golf Links | Category A |
| Kalindi Colony | Category A |
| Lodi Road Industrial Area | Category A |
| Maharani Bagh | Category A |
| Nehru Place | Category A |
| New Friends Colony | Category A |
| Panchshila Park | Category A |
| Rajendra Place | Category A |
| Shanti Niketan | Category A |
| Sunder Nagar | Category A |
| Vasant Vihar | Category A |
| Anand Niketan | Category A |
| Basant Lok DDA Complex | Category A |
| Bhikaji Cama Place | Category A |
| Friends Colony | Category A |
| Sarvapriya Vihar | Category B |
| Sarvodaya Enclave | Category B |
| Anand Lok | Category B |
| Andrews Ganj | Category B |
| Defence Colony | Category B |
| Greater Kailash I | Category B |
| Greater Kailash II | Category B |
| Greater Kailash III | Category B |
| Greater Kailash IV | Category B |
| Green Park | Category B |
| Gulmohar Park | Category B |
| Hamdard Nagar | Category B |
| Hauz Khas | Category B |
| Maurice Nagar | Category B |
| Munirka Vihar | Category B |
| Neeti Bagh | Category B |
| Nehru Enclave | Category B |
| Nizamuddin East | Category B |
| Pamposh Enclave | Category B |
| Panchsheel Park | Category B |
| Safdarjang Enclave | Category B |
| Alaknanda | Category C |
| Chittaranjan Park | Category C |
| Civil Lines | Category C |
| East of Kailash | Category C |
| East Patel Nagar | Category C |
| Jhandewalan Area | Category C |
| Kailash Hill | Category C |
| Kalkaji | Category C |
| Lajpat Nagar I | Category C |
| Lajpat Nagar II | Category C |
| Lajpat Nagar III | Category C |
| Lajpat Nagar IV | Category C |
| Malviya Nagar | Category C |
| Masjid Moth | Category C |
| Munirka | Category C |
| Nizamuddin West | Category C |
| Panchsheel Extension | Category C |
| Punjabi Bagh | Category C |
| Som Vihar | Category C |
| Vasant Kunj | Category C |
| Jasola Vihar | Category D |
| Karol Bagh | Category D |
| Kirti Nagar | Category D |
| Mayur Vihar | Category D |
| New Rajinder Nagar | Category D |
| Old Rajinder Nagar | Category D |
| Rajouri Garden | Category D |
| Anand Vihar | Category D |
| Daryaganj | Category D |
| Dwarka | Category D |
| East End Apartments | Category D |
| Gagan Vihar | Category D |
| Hudson Line | Category D |
| Indraprastha Extension | Category D |
| Janakpuri | Category D |
| Jangpura A | Category D |
| Jangpura Extension | Category D |
| Chandni Chowk | Category E |
| East End Enclave | Category E |
| Gagan Vihar Extension | Category E |
| Hauz Qazi | Category E |
| Jama Masjid | Category E |
| Kashmere Gate | Category E |
| Khirki Extension | Category E |
| Madhuban Enclave | Category E |
| Mahavir Nagar | Category E |
| Moti Nagar | Category E |
| Pahar Ganj | Category E |
| Pandav Nagar | Category E |
| Rohini | Category E |
| Sarai Rohilla | Category E |
| Majnu Ka Tila | Category F |
| Mukheree Park Extension | Category F |
| Nand Nagri | Category F |
| Uttam Nagar | Category F |
| Zakir Nagar Okhla | Category F |
| Anand Parbat | Category F |
| Arjun Nagar | Category F |
| Daya Basti | Category F |
| Dilshad Colony | Category F |
| Dilshad Garden | Category F |
| BR Ambedkar Colony | Category F |
| Ganesh Nagar | Category F |
| Govindpuri | Category F |
| Hari Nagar | Category F |
| Jangpura B | Category F |
| Madhu Vihar | Category F |
| Ambedkar Nagar Jahangirpuri | Category G |
| Ambedkar Nagar East Delhi | Category G |
| Amber Vihar | Category G |
| Dabri Extension | Category G |
| Dakshinpuri | Category G |
| Dashrath Puri | Category G |
| Hari Nagar Extension | Category G |
| Vivek Vihar Phase I | Category G |
| Tagore Garden | Category G |
| Sultanpur Majra | Category H |
See also: Circle rates in Gurgaon
50 gaj independent house in delhi
Circle rates of land in Delhi colonies
| Area | Land cost | Construction cost |
| Lodi Road Industrial Area | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Maharani Bagh | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Nehru Place | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| New Friends Colony | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Panchshila Park | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Rajendra Place | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Shanti Niketan | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Sunder Nagar | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Vasant Vihar | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Anand Niketan | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Basant Lok DDA Complex | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Bhikaji Cama Place | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Friends Colony | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Friends Colony East | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Friends Colony West | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Golf Links | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Kalindi Colony | Rs 7.74 lakhs per sq metre | Rs 21,960 per sq metre |
| Anand Lok | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Andrews Ganj | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Defence Colony | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Greater Kailash I | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Greater Kailash II | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Greater Kailash III | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Greater Kailash IV | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Green Park | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Gulmohar Park | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Hamdard Nagar | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Hauz Khas | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Maurice Nagar | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Munirka Vihar | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Neeti Bagh | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Nehru Enclave | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Nizamuddin East | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Pamposh Enclave | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Panchsheel Park | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Safdarjang Enclave | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Sarvapriya Vihar | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Sarvodaya Enclave | Rs 2.46 lakhs per sq metre | Rs 17,400 per sq metre |
| Civil Lines | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| East of Kailash | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| East Patel Nagar | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Jhandewalan Area | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Kailash Hill | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Kalkaji | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Lajpat Nagar I | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Lajpat Nagar II | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Lajpat Nagar III | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Lajpat Nagar IV | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Malviya Nagar | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Masjid Moth | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Munirka | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Nizamuddin West | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Panchsheel Extension | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Punjabi Bagh | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Som Vihar | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Vasant Kunj | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Alaknanda | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| Chittaranjan Park | Rs 1.60 lakhs per sq metre | Rs 13,920 per sq metre |
| New Rajinder Nagar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Old Rajinder Nagar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Rajouri Garden | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Anand Vihar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Daryaganj | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Dwarka | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| East End Apartments | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Gagan Vihar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Hudson Line | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Indraprastha Extension | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Janakpuri | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Jangpura A | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Jangpura Extension | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Jasola Vihar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Karol Bagh | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Kirti Nagar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Mayur Vihar | Rs 1.28 lakhs per sq metre | Rs 11,160 per sq metre |
| Chandni Chowk | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| East End Enclave | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Gagan Vihar Extension | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Hauz Qazi | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Jama Masjid | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Kashmere Gate | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Khirki Extension | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Madhuban Enclave | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Mahavir Nagar | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Moti Nagar | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Pahar Ganj | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Pandav Nagar | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Rohini | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Sarai Rihilla | Rs 70,080 per sq metre | Rs 9,360 per sq metre |
| Zakir Nagar Okhla | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Anand Parbat | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Arjun Nagar | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Daya Basti | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Dilshad Colony | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Dishad Garden | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| BR Amdedkar Colony | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Ganesh Nagar | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Govindpuri | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Hari Nagar | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Jangpura B | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Madhu Vihar | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Majnu Ka Tila | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Mukheree Park Extension | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Nand Nagri | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Uttam Nagar | Rs 56,640 per sq metre | Rs 8,220 per sq metre |
| Ambedkar Nagar Jahangirpuri | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Amdedkar Nagar East Delhi | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Amber Vihar | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Dabri Extension | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Dakshinpuri | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Dashrath Puri | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Hari Nagar Extension | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Vivek Vihar Phase I | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Tagore Garden | Rs 46,200 per sq metre | Rs 6,960 per sq metre |
| Sultanpur Majra | Rs 23,280 per sq metre | Rs 3,480 per sq metre |
Factors that impact circle rate in Delhi
Property circle rates in Delhi depend on a number of factors, such as:
Facilities in the area: The more the facilities, the higher the circle rate in Delhi.
Market value of the locality: The higher the market value, the higher the circle rate in Delhi.
Category type of the area: Circle rates of properties in posh areas of Delhi are always higher than the rates in other areas.
Type of property: While circle rates are lower for residential properties in Delhi, they are comparatively higher for commercial properties.
Circle rate vs market rate
Circle rate is the minimum value at which the sale or transfer of a property, such as a plot, apartment or commercial property, takes place. It serves as a reference point for the payment of stamp duty for property registrations in the city. This value is set by the state revenue department or a local development authority. The circle rates can vary for different localities. On the other hand, the market rate of a property refers to the actual price at which the transactions take place between a buyer and a seller.
The state government periodically revises the circle rate. Unlike the circle rate, the market price of a property is a dynamic value that varies, depending on market forces including supply and demand. Thus, circle rates are usually lower than the market prices.
For example, the market value rate of a residential plot in Dwarka is Rs 2.17 lakhs per sq mt. However, the circle rate for the property in the locality is Rs 1.28 lakhs per sq mt. Thus, the market rate can differ from the circle rate for the same property in a locality. In this case, the stamp duty and registration charges will be paid, based on the higher value, i.e., the market value. If the market value is lower than the circle rate, then, the stamp duty and registration charges will be levied based on the circle rate, which is the minimum value at which a property must be registered.
What are registry charges in Delhi
Registration charges are an additional levy, over and above the stamp duty and are levied to cover the cost of running registration offices by the government. While registering any property in Delhi, a property buyer needs to pay a registration fee of 1% of the consideration value plus Rs 100 as pasting fees.
Understanding the impact of circle rate revision
Recently, the Delhi government had said that the reduction of 20% in the circle rates would also impact the stamp duty or registration charges by 1%. This will benefit many home buyers across the city, as properties will become more affordable. It will also help revive the real estate sector that has been impacted by the COVID-19 pandemic.
In particular, the reduction will give a boost to the high-end category A markets, including Vasant Vihar, Maharani Bagh, etc., where transactions have remained slow and the actual market rate was lower than the circle rates. The reduction will bring the circle rates closer to the market rates, thus, giving a boost to real estate transactions.
The revision in circle rates will also boost revenue for the government. There was a decline in stamp duty fee on property registration amid the pandemic, as the registrar’s offices were closed for transactions during the lockdown.
Latest updates on Delhi circle rates
Circle rate cut in Delhi should be extended, say industry experts
A number of industry experts have opined that the Delhi government should extend the benefit of a 20% reduction in the circle rates beyond September, in view of the second wave of the COVID-19 pandemic. India Sotheby’s International Realty’s chief executive officer Amit Goyal said that registrations of properties had been hampered in the national capital due to the lockdown and almost two months lost, because of the severe second wave of the pandemic. Similarly, Sunil Tyagi, the managing partner of Zeus Law, said: “It is desirable and expected that the Delhi government extends the time for availing of the benefit of reduced circle rates till the pandemic situation continues.”
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