Delhi's property rates may soon see an upward revision, as the national capital's government has issued a public noitce inviting suggestions on revising circle rates. This rate is the minimum property valuation used for registration and taxation purposes.
The move aims to bring circle rates closer to prevailing market prices, ensuring greater transparency in property transactions and boosting revenue for the state. The government has called upong Resident Welfare Associations (RWAs), property owners, industry bodies, and other stakeholders to share their views withing 15 days via email to the Revenue Department.
“The Government of the National Capital Territory of Delhi is in the process of revising the circle rates for various categories of properties across Delhi. The revision aims to align the notified rates with prevailing market conditions and ensure transparency in property transactions,” the notice stated.
Currently, Delhi's properties are classified into eight categories (A to H) based on location and affluence. Category A includes the city's most upscale colonies such as Golf Links, Jor Bagh, and Vasant Vihar, which command the highest circle rates. On the other end of the spectrum, Category H covers village areas with the lowest valuation rates, as per The Hindu
The revision is expected to impact property transactions across all categories, especially in premium localities where the gap between circle rates and actual market prices is significant.
Meanwhile, In April, The Maharashtra government announced a 4.39% increase in the ready reckoner rate for financial year 2026, effective April 1.
Ready reckoner rates, also known as circle rates, are the minimum values set by the government for land and property transactions.
These rates are used to calculate stamp duty and registration charges, ensuring that property transactions are not undervalued to evade taxes. The increase in ready reckoner rates means higher property valuations, leading to increased stamp duty and overall property costs for buyers.
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