30 Jun 2022

Delhi government to discontinue rebate of 20% on circle rate

The Delhi government on December 31, 2021 extended the 20 percent rebate on circle rate for land and immovable property till June 30, 2022 to help Delhi’s COVID-hit real estate sector.

Delhi government will not be extending the rebate of 20 percent on the circle rate of land and immovable property for another six months, making property transactions expensive from July 1 onwards.

A Delhi government order said on June 30 that the “Competent Authority has decided to discontinue the relaxation of 20% in circle rates beyond 30.6. 2022.”

Circle rates as notified under the 2014 notification shall be applicable from July 1, 2022, it said.

The Delhi government on December 31, 2021, extended the 20 percent rebate on circle rate for land and immovable property till June 30, 2022, to help Delhi’s COVID-hit real estate sector.

In September 2021, it was extended up to December 31, 2021. The extension of 20 percent relaxation in circle rate was to help Delhi's COVID-hit real estate sector.

Circle rates vary from state to state and are revised from time to time depending on demand, supply, and other development indicators of the area concerned.

Source: https://www.moneycontrol.com/news/business/real-estate/delhi-government-to-discontinue-rebate-of-20-on-circle-rate-8763681.html