Rate of Property in Delhi The government of Delhi declared to slash the circle rate of property in Delhi residential/commercial/industrial properties in Delhi by 20 percent to "boost" the economy hit by the Covid pandemic. The rate reduction will be eligible for the next six months in all the categories. The rate of properties in Delhi are graded from 'A' to 'H' in eight grades, with posh areas coming under 'A' And the least developed regions are in the category of 'H.' For categories A to H, the existed circular prices are Rs 7.74 lakh, Rs 2.46 lakh, Rs 1.6 lakh, Rs 1.28 lakh, Rs 70,080, Rs 56,640, Rs 46,200 and Rs 23,280 respectively. Revenue Minister Kailash Gahlot said lowering circle rates would allow more people to make real-estate transactions and escape the sector's volatility. A decrease of 20 percent in the circle rate will affect the stamp duty or registration fees by almost 1 percent. "While we are slowly recovering from the economic contraction in the postCOVID era, the rate of the property is increasing and our government must take all steps to further reduce the financial burden on the citizens," he said.
What is Circle Rate? Circle rates refer to the minimum price fixed for transactions by the state government at which a property has to be registered. According to market conditions, the rate of the property is adjusted from time to time. Circle rates differ, depending on the market value and facilities available in the region, within cities in the same state. Those rates are an indication of future property prices in different areas. Stamp duty ranges between 4% and 6% of the rate of property in Delhi, while the registration fee is 1% of the transaction value. If buyers are men, it is 6 percent, and 4 percent for women buyers.