Property transactions to become costlier as Delhi government withdraws 20% rebate on circle rates

New Delhi: Property transactions in Delhi are likely to become costlier as the Delhi government on Thursday issued an order to withdraw the 20% rebate on circle rates used to calculate stamp duty on property transactions from July 1, according to an official

New Delhi: Property transactions in Delhi are likely to become costlier as the Delhi government on Thursday issued an order to withdraw the 20% rebate on circle rates used to calculate stamp duty on property transactions from July 1, according to an official.

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“The competent authority has decided to discontinue the relaxation of 20% in circle rates beyond 30.06.2022. The circle rates as notified...on 22/09/2014 shall be applicable w.e.f. 01/07/2022,” an order issued by the revenue department said.

The Delhi government had introduced a rebate on circle rates during the Covid-19 pandemic in February 2021 and extended it twice. It led to an increase in property transactions, said an official.