Delhi circle rate rises up. How far this is good and bad?

Q: Circle rate is the minimum value at which the sale or transfer of a plot, built-up house, apartment or a commercial property can take place.

Suhail, Delhi-NCR

24th December 2014

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Replies (6)

As per sources, Aam Aadmi Party govt has settled the new rates between Rs 1-3.5 crore/acre from the prior Rs 53 lakh/acre of land. Charging that the choice was taken without the LG's permission, the PIL had looked for suppress of the August 4 warning, which had as of now pursued into inconvenience LG Najeeb Jung ordered the Arvind Kejriwal govt to keep up business as usual till the issue was analyzed legally.

Arpit, Delhi-NCR

17th August 2015

Comment

Hi Guys,
As per the latest news, the Delhi High Court dismisses a PIL against an AAP govt notice upgrading the circle rates of rural area(agricultural land) in the capital by 3 times. Kindly discuss.

Raj Roy, Delhi

17th August 2015

Comment

Hi Raj,
As per the news, bench of Chief Justice G Rohini and Justice Jayant Nath declared that, no case is made out as the notice was issued for the sake of the lieutenant governor. The court passed the request after the applicant, who had looked for subduing of the August 4 notice, neglected to answer the seat's question regarding who has the authority to authorize the same.

Jeet Bhaskar, Delhi

17th August 2015

Yes Jeet, that is right. But on the other hand, the bench was told by the Delhi govt that according to the Transaction of Business Rules, the notice must be issued for the sake of the LG and the same has been consented to.

Raj Roy, Delhi

17th August 2015

Hi Guys,
According to sources, as the notice was issued for the sake of LG, no case is made out. The writ appeal is rejected. The appeal filed by a property dealer, Mr Gopal Gupta, had asserted that the notice issued by the Delhi government was invalid as it has been issued with no authority.

Richa, Delhi

17th August 2015

Group housing projects as well as high rise buildings in Noida and Greater Noida has seen a swift development in this area. The developers have been demanding an enormous amount from home purchasers because of amenities, for example, swimming pool, security and lift etc. Presently, such amenities charges in Noida has been decreased from 25% to 15%. At the same time in Greater Noida, it has been decreased from 12% to 10%.

Bobby, Noida

11th August 2015

Comment

Hi Pranab,
According to the sources, the high rise structures in both areas(Noida, Greater Noida) have additionally been given relief depended upon the height. Prior this alleviation was accessible at the rate of 5% for floors beginning from the 3rd floor or more, heading off up to a most extreme of 20%.

Bulbul Verma,

12th August 2015

As per the district official, there has been no increment in the circle rates for industrial plots measuring up to 4000 sq-m. But plots over 4000 sq-m, the approved rate as well as the lease rent would be added to touch base at the circle rate. In any case, if the current circle rate is more, then that would be relevant.

Veena K,

13th August 2015

Hi Pranab,
As per current news, fully developed sectors in Greater Noida, for example, Deltam, Beta, Alpha as well as Gamma have seen an increment of Rs 1,000/sq-mt. There are no changes in undeveloped sectors. The stamp duty is directly relative to the property circle rate.

Samrat,

14th August 2015

Hey Guys,
Latest change in circle rates of Noida , made sector 15A and 44 most expensive locality in Noida. From August 7th ,this new circle rate has introduced. Kindly discuss.

Pranab Malakar,

11th August 2015

Comment

Hi Pranab,
As per the latest news, circle rates in Gautam Budh Nagar increase by 5%-10% crosswise over different categories. As an outcome, registration of property has gotten to be expensive in the region. The upgrade, on the other hand, is not uniform crosswise over types or locations.

Shilpa, Noida

11th August 2015

Hi Shilpa,
According to sources, while Sector 15A and Sector 44 in Noida have turned into the costliest, the district administration has given some alleviation to flat and shop purchaser. The circle rate is currently Rs 90,500/sq-mt when contrasted with the before circle rate of Rs 86,000/sq-mt for property belongs to category A.

Pranab Malakar,

11th August 2015

As indicated by officials, in Greater Noida, the residential property in Jaypee Greens Rs 35,000/sq-m to Rs 47,000/sq-m as well as the commercial property in the region of Alpha commercial belt have seen the most elevated increment. The rural area has seen a 10% hike on an average rate.

Shilpa, Noida

11th August 2015

Hi Guys,
According to late news, climb in circle rate will chop down the dark cash part in such exchanges. In great times, a climb in circle rates by and large prompts some increment in property costs too. Yet considering the languor in land, especially in Delhi, the climb in circle rates will just result in higher incomes for the legislature and is unrealistic to have noteworthy effect on winning property costs.

Kalki K,

26th February 2015

Comment

Hi Guys,
I agreed with what kalki said here. For posh colonies such as Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas (category A), the circle rate has been hiked 20 per cent from Rs 6.45 lakh per square metre to Rs 7.74 lakh per square metre.

Land rates in category B neighbourhoods like Andrews Ganj, Kalkaji, Munirka Vihar and Nehru Enclave have been increased to Rs 2.45 lakh per square metre as against current rate of Rs 2.04 lakh per square metre.

Raj Roy, Delhi

26th February 2015

Yes , believe it or not Mr Raj. I got notification from news couple of days back, Category C states (Alaknanda, Chittaranjan Park, Civil Line, East of Kailash. East Patel, Kalkaji and Lajpat Nagar), the circle rate has been trekked to Rs 1.60 lakh every square meter from current Rs 1.33 lakh every square meter.

Classification D (Anand Vihar, Daryaganj, Dwarka, Indraprastha Extension and Janakpuri) the new rates will be Rs 1.28 lakh every square meter as against existing rate of Rs 1.06 lakh every square meter.

Saran,

26th February 2015

Yes. That is absolutely right Saran. Yeah ialso came across this news. Currently every one is discussing about this. As per different sources, The rate for colonies under category E (Chandni Chowk, Hauz Qazi, Jama Masjid, Kashmere Gate and Khirki Extension) has been hiked from Rs 58,365 to Rs 70,080 per square metre.

For F category colonies (Anand Parbat, Arjun Nagar, Daya Basti, Dilshad Colony, Dishad Garden and BR Amdedkar Colony), the rate will be Rs 56,640 as against current rate of Rs 47,140.

In respect of category G colonies (Amber Vihar, Dabri Extension, Dakshinpuri, Dashrathpuri and Hari Nagar Extension), the new rate will be Rs 46,200 per square metre as against existing Rs 38,442.

For H category colonies it has been hiked to Rs 23,280 from Rs 19,361.

Lekshmi,

26th February 2015

Hi Suhail,
Circle rates are the base power characterized costs at which a property deal or exchange could be possible between two gatherings, furthermore focus the related stamp obligation and enlistment charges to be paid for such an exchange. This is the floor cost, and the real exchange cost can be higher than this, subsequent in higher stamp obligation to be paid out.

Bhuvan, Delhi-NCR

24th December 2014

Comment

Hi Mr Suhail,

Circle rates are normally characterized by the nearby express government's income divisions or the neighborhood advancement powers, in accordance with what they see the costs at which property deal or exchange ought to be attempted. In that capacity, circle rate is typically a determinant or a reference rate, best case scenario. Business sector rates, then again, are controlled by the merchant's desire of value and the purchaser's slant to pay.

Ayesha, Delhi-NCR

24th December 2014

@ Suhail,

Business cost is the estimation of such a benefit for an exchange between a vender and purchaser which is carried out at an a safe distance's standard with the cost dictated by the business sector strengths of supply and interest. Circle rate is the base worth at which the deal or exchange of a plot, constructed up house, flat or a business property can happen.

Jay, Delhi-NCR

24th December 2014

Hi Mr Suhail,

Delhi government has informed a modified circle rate administration that is 20 every penny higher than the current rate structure over the metropolitan valuation state classification from A to H. Circle rates have likewise been modified upwards for condo. Purchasers in class A states, for example, Vasant Vihar, Maharani Bagh, and Golf Links will now need to pay stamp obligation on property valuation of 7.74 lakh every sq meter as against 6.45 lakh as such.

Rajesh, Delhi-NCR

24th December 2014

Hi Mr Suhail,
According as far as anyone is concerned, the real property exchange and finish of an arrangement happens at much higher cost than the administrations endorsed rates (circle rates). Since the purchasers are compelled to enroll the property at circle rate, they need to fork out extra money to adjust for the genuine exchange esteem.

Arpit, Delhi-NCR

24th December 2014

@ Suhail,

Despite the fact that off base the trek in circle rates will expand the income for the administration, it will likewise prompt cleaner exchanges and lesser contribution of dark cash part. The antagonistic impact is property estimation will go up, prompting a fall popular thus will push the interest in different parts of NCR. The bring up in circle rate won't have much effect on land costs.

Neha Srivastava, Delhi-NCR

25th December 2014

@ Mr Suhail,

According as far as anyone is concerned, the business sector rate can never be beneath the circle rate, an altogether higher distinction between them demonstrates a slack between business execution and the power's perspective of it. This is the explanation behind dark cash exchanges in the Indian land space. The raise will antagonistically affect the property showcase as circle rates in a few provinces give off an impression of being higher than the real market rates.

lekshmi.sanjeev@ymail.com, Delhi

25th December 2014