Govt Forms Panel to Decide Revision of City's Circle Rates

Chief Minister Rekha Gupta on Saturday directed revision of circle rates of properties across all categories and formed a panel to study it, officials said on Saturday.

- Alok KN Mishra

NEW DELHI:

The revision will likely include both decreasing and increasing of circle rates "due to the existing inconsistencies", which the CM flagged during the meeting of the government-industry task force at the Delhi Secretariat, officials added.

Circle rates are the minimum value assigned to a property for registration purposes by the government, used as a benchmark for property valuation and stamp duty calculation.

During Saturday's meeting, the CM directed an assessment of existing circle rates. The meeting was attended by Industries Minister Manjinder Singh Sirsa, officials from the Municipal Corporation of Delhi, Delhi Development Authority, Delhi Metro Rail Corporation, Registrar of Co-operative Societies, and representatives from the Confederation of Indian Industry (CII), who are part of the task force.

"The final decision regarding the revision, including if the rates will be increased or decreased, will be taken based on the committee report," said a senior revenue department official, requesting anonymity.