Property rates in Delhi reduced by 20%

The property's circle rate will remain 20% lower until 30 September 2021

The Delhi government has taken a major decision to cut the circle rate of residential, commercial and industrial properties by 20% for six months. With this decision of the Kejriwal cabinet, the circle rate related to residential, commercial, industrial properties in Delhi by 30 September 2021 Will decrease. This will benefit those wishing to buy property in the capital. Experts said, the purchase of new and old properties will increase, the real estate sector will shine, the real estate sector, which is facing economic crisis in the Corona-era, is also expected to get a big relief. A 20% reduction in circle rate will have an impact of around 1% in income from stamp duty and registration fees.

CM Arvind Kejriwal said that he is now slowly recovering from the economic loss in the Corona era. In such a situation, it is the responsibility of the government to take all steps to reduce the burden on the common man.

Deputy Chief Minister Manish Sisodia said that this decision will provide relief to those who buy property. Revenue Minister Kailash Gehlot said that now more and more people will get incentive to invest in real estate. The Corona-period saw a slowdown in the real estate sector. The move is expected to get jobs back in construction.