‘Circle rates still lower than NCR’

Oct 13, 2010 - Age Correspondent |

New Delhi

Property prices in the capital are set to rise with the Delhi Cabinet clearing a proposal to hike the circle rates by 100 per cent across all categories of properties. The rates have been revised for the first time after being introduced in July 2007.

However, amid criticism from the Opposition, PWD minister Raj Kumar Chauhan on Tuesday told reporters that “even after the revision, circle rates in Delhi are much lower than that of Noida and Gurgaon.” He added, “the new rates will be converted into a notification when lieutenant governor Tejendra Khanna gives his nod.”
The Delhi Cabinet earlier in its decision on June 14, had massively hiked the circle rates based on localities/colonies instead of the existing basis of unit area method and associated categorisation of colonies from A to H Category. But the matter was put on hold after ministers differed on it.
Chaired by chief minister Sheila Dikshit, today’s meeting agreed to continue with the earlier existing categorisation by the Municipal Corporation of Delhi (MCD). The Delhi chief minister soon after Cabinet meeting stated: “The Delhi Cabinet decided to double the circle rates of properties.” She added, “the decision was also taken to mitigate black money circulation in property transaction.”
The existing circle rates were introduced in Delhi in 2007. The previous circle rates based on the Municipal Corporation of Delhi (MCD) categorisation were `43,000 per sq metre for Category A, `34,100 for Category B, `27,300 for Category C, `21,800 for Category D, `18,400 for Category E, `16,100 for Category F, `13,700 for Category G and `6,900 for Category H.
As per the proposal accepted by the Cabinet on June 14, the circle rates ranged between `9,000 and `1.25 lakh per sq metre.
The issue became more complicated after a committee formed to study the new circle rates decided to hike rates for some more colonies, including that of Chauhan’s Bhera Enclave.
Following this, the Delhi government decided to seek public opinion on the issue.

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