New Delhi, Oct 1 (PTI) The Delhi government has rolled out the process to revise circle rates of land in the city, seeking public suggestions in this regard, officials said on Wednesday.
The circle rates
in Delhi were last revised a decade ago in 2014.
“The Government of NCT of Delhi is in the process of revising the circle rates (minimum property valuation rates) for various categories of properties across Delhi,” said a circular issued on Wednesday by the revenue secretary cum divisional commissioner of the government.
The revision aims to bring the notified rates in alignment with prevailing market conditions and ensure transparency in property transactions, it said.
The notification has sought public feedback and suggestions on the revision within the next 15 days, said a senior government officer.
“After receiving and analysing the public feedback, the government will come up with proposed revised circle rates and the entire process is expected to be completed in the next couple of months,” he said.
The public can refer to the existing notification of March 14, 2008, for Minimum Rates (Circle Rate) of Agricultural Land & River Bed Land and notification dated September 22, 2014, for minimum rate (Circle rates) for valuation of lands and immovable properties, before submitting feedback, he said.
Interested individuals, resident welfare associations (RWAs), industry bodies, property owners and other stakeholders may submit their suggestions on the email id- “suggestionondelhicirclerates@gmail.com” – within a period of 15 days, said the notification.
The process of revision was initiated during the tenure of the previous government in Delhi, but the task remained unaccomplished due to different reasons, even as the market rates of landed property skyrocketed in the capital.
The circle rate of land or any property is its threshold rate below which its sale can not be registered.
The prevailing circle rates for valuation of land and properties for payment of stamp duty under the Indian Stamp Act are based on 8 categories of colonies (A-H) divided as per the level of civic infrastructure there.
The circle rates range from Rs 7,74,000 per square metre for ‘A’ to Rs 23,280 per square metre for ‘H’ category localities.
The rates for other localities are Rs 2,45,520 per sq metre for ‘B’, Rs 1,59,840 for ‘C’, Rs 1,27,680 per square metre for ‘D’, Rs 70,080 for ‘E’, Rs 56,640 per square metre for ‘F’ and Rs 46,200 per square metre for ‘G’ categories.
The circle rates of land for public utility (schools, hospitals), industrial and commercial purposes are calculated using the multiplying factor. The multiplying factor is 2 for public utility and industrial, and 3 for commercial land use.
According to available information, the agricultural land circle rate was last revised to Rs 53 lakh per acre by the Delhi government in 2008, the officials said.
In June this year, the formation of a committee headed by the divisional commissioner was announced by Delhi Chief Minister Rekha Gupta for the revision of circle rates.
The committee will submit a report based on current market conditions and property values, which will then be used as the basis for revising the circle rates, officials said. PTI VIT RT RT
