The Delhi administration was led by Chief Minister Arvind Kejriwal. It has agreed to raise circular rates for agricultural land in the national capital from December 18, 2019, potentially increasing its cost by at least five times. Circle rates for agricultural land in Delhi have been raised from Rs 53 lakhs per acre to between Rs 2.25 crores and Rs 5 crores. The lieutenant governor has yet to sign off on the idea.
What is the pace of a circle?
• Rates for ready reckoners, • Rates set by the government • Rates for collectors
This varies from state to state and from neighbourhood to neighbourhood. It is based on this rate that buyers must pay stamp duty on real estate transactions. If interest rates rise, properties will become more expensive.
For stamp duty payment, circle rates are set. Stamp duty is a duty on the transfer of property rather than a duty on the instrument.
Property prices in Delhi/NCR have increased by more than tenfold in the last ten years, making it critical for anyone considering purchasing residential property in Delhi/NCR to make informed, measured, and timely decisions.
In Delhi, the stamp duty is currently 4% of the circle rate for female applicants and 6% of the circle rate for male applicants.
Without further ado, all readers here should call a reputable online real estate portal or a reputable property dealer right now. Obtain the name of a reputable builder and complete your property as quickly as possible.
