Buying property in the capital is going to get costlier as the Delhi government is gearing up to hike circle rates. The circle rate is the base rate at which the government arrives at the valuation of properties in the city.
The Delhi government is all set to hike circle rate in all the categories. The category A, which includes posh colonies, is set for the highest jump in circle rate. The Category A includes colonies like Greater Kailash, Safdarjung Devel-opment Area, Safdarjung Enclave, Panchsheel Park, Sarvapriya Vihar etc. The circle rate in category A is currently Rs 43,000 per square feet, which is to be hiked to Rs 1,25,000 per square feet. The hike will be almost four times from the current rate.
The circle rate is also set to impact the house tax, which will also go up in the coming times, senior officials indicated.
“The circle rate for B Category is to be hiked from Rs 34,100 per square feet to Rs 1,00,000. In the case of Category C, the circle rate is to rise from Rs 27,300 per square feet to Rs 86,000 per square feet. For the D category, the rate would go up from Rs 21,800 to Rs 68,000,” said a senior official.
The government is not even going to spare down market localities, as circle rate in category E is set to go up from Rs 18,400 to Rs 54,500 per square feet.
“In the case of F category of localities, the circle rate from the current Rs 16,100 will go up to Rs 43,500 per square feet. Further, the circle rate in the G category will go up to Rs 27,500 per square feet from the current Rs 13,700 and in the H category the rate will be Rs 21,000 in place of existing Rs 6,900,” added the official.