Real Estate Property
prices in Delhi are likely to zoom further with Delhi Government recently hiked
the circle rates, the minimum valuation
of plot of land & immovable property -- by up to 200% to check black money
in transactions.
Category A..!
The rates in Category
A colonies such as Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel
Enclave, Anandlok, Green Park, Golf Links & Hauz Khas have been hiked by
200%..
As per the rates approved
by Delhi Cabinet recently Rs. 6.45 lakh
per square meter has been fixed as new circle rate for category A colonies as
against existing rate of Rs. 2.15 lakh.
This means nobody
would be allowed to buy plot of land & immovable properties in these colonies
for less than Rs. 6.45 lakh per square meter.
Category B..!
The rates in Category
B neighbourhoods like Andrews Ganj, Kalkaji, Munirka Vihar and Nehru Enclave
have been increased by 50 per cent while for rest of the areas, the hike has
been fixed at 22 per cent.
As per the cabinet
decision, Rs. 2,04,600 per square meter has been fixed for B category colonies
as against current rate of Rs. 1,36,400 per square meter.
Black Money in
Property Transactions..!
Delhi Revenue
Secretary Mr. Dharampal said, ''The Delhi government decided to hike the circle
to cut the black money component in property transactions. He said government
expects to generate an additional revenue of Rs. 200 crore from hike in circle
rates."
In 2011-12, the Delhi
Government had collected Rs. 2,000 crore in revenues from registration of
properties & Rs. 1,300 crore has been collected so far in current fiscal
(2012-13).
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