Delhi govt seeks suggestions before finalising new circle rates
According to the report of a task force set up by the Delhi government, circle rates in the Capital are often much higher than in neighbouring Gurugram and Noida, and in some cases even Mumbai
The Delhi government on Wednesday issued a public notice seeking suggestions on the revision of prevailing circle rates in the Capital. The revenue department said the revision “aims to bring the notified rates in alignment with prevailing market rates,” and urged stakeholders, including resident welfare associations (RWAs) and industry bodies, to submit feedback within 15 days.
Circle rates are the minimum property prices fixed by the government for the sale or transfer of land, residential, commercial, or industrial properties in a particular area, depending on locality and property type. The last revision in Delhi took place in February 2015. In June this year, the government directed officials to initiate the revision process by forming a committee under the chairmanship of the divisional commissioner.
An order issued by the divisional commissioner on October 1 stated: “The government of NCT of Delhi is in the process of revising the circle rates (minimum property value rates) for various categories of properties across Delhi. The revision aims to bring the notified rates in alignment with prevailing market conditions and ensure transparency in property transactions... Interested individuals, RWAs, industry bodies and property owners may submit their suggestions on email id suggestionondelhicirclerates@gmail.com within a period of 15 days.”
In June, the inconsistencies in the current circle rates were flagged during the meeting of the government-industry task force at Delhi Secretariat. Chief minister Rekha Gupta had then ordered a review, pointing out that the current circle rate structure across Delhi were inconsistent and required reassessment.
{{/usCountry}}In June, the inconsistencies in the current circle rates were flagged during the meeting of the government-industry task force at Delhi Secretariat. Chief minister Rekha Gupta had then ordered a review, pointing out that the current circle rate structure across Delhi were inconsistent and required reassessment.
{{/usCountry}}According to the task force report, seen by HT, circle rates in the Capital are often much higher than in neighbouring Gurugram and Noida, and in some cases even Mumbai.
{{/usCountry}}According to the task force report, seen by HT, circle rates in the Capital are often much higher than in neighbouring Gurugram and Noida, and in some cases even Mumbai.
{{/usCountry}}Another important recommendation of the task force was to revise Delhi’s circle rates for both industrial and commercial land.
{{/usCountry}}Another important recommendation of the task force was to revise Delhi’s circle rates for both industrial and commercial land.
{{/usCountry}}“Delhi’s market has been priced out by its own valuation benchmarks,” the report notes. “There is an urgent need to realign circle rates with market realities, especially in areas where transactions have shifted to satellite towns.”
{{/usCountry}}“Delhi’s market has been priced out by its own valuation benchmarks,” the report notes. “There is an urgent need to realign circle rates with market realities, especially in areas where transactions have shifted to satellite towns.”
{{/usCountry}}The task force’s presentation highlights stark disparities in circle rates across Delhi, Gurugram, Noida, and Mumbai, underscoring the need for immediate revision in the Capital.
In premium residential areas, Delhi’s circle rates are disproportionately high at ₹7.74 lakh per square metre (sqm), while the highest residential circle rate in Gurugram is ₹5.5 lakh/sqm in Gurugram and ₹1.19 lakh/sqm in Noida. For commercial areas, Delhi’s circle rates are ₹69,820-23.3 lakh/sqm, while in Gurugram the maximum rate is ₹2.36 lakh/sqm and ₹1.19 lakh/sqm in Noida.
An official said inconsistencies in the circle rates mean that in some parts of a neighbourhood, the rates are much higher than in equally developed adjoining areas.
The committee by divisional commissioner is expected to submit a detailed report based on current market conditions and property values, which will then be used as the basis for revising the circle rates. A proposal was made in 2022 to increase the circle rates in some select areas but that could not be implemented.
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