Registering your property will soon become a costly affair, with the Delhi government notifying the hike in the circle rates up to 250%.
The decision to enhance the rates was taken at a Cabinet meeting on October 31. “The rates are applicable from today,” said a government official. Circle rates are charged on the basis of categories prescribed by MCD for calculation of property tax under unit area method. For this purpose, Delhi has been divided into eight categories — A to H — where A stands for posh colonies.
This is second such hike in circle rates in Delhi in the last nine months. The rates were hiked by over 100% in February.
Under the revised rates, R2.15 lakh per square metre has been fixed as new circle rate for Category A that covers areas such as Defence Colony, Gulmohar Park , Panchsheel Enclave, and Hauz Khas.