Understanding the role of circle rates
A hike brings the official rate closer to market value, but also increases stamp duty and registration fee
With an aim to bring down the incidence of unaccounted money in property transactions, Delhi government’s Revenue Department increased the circle rates across all categories of colonies in the city by 20% on 22 September. There are eight such categories, A to H, based on the price per sq. metre, with A being the most expensive category. The increased rates have come into effect since 23 September.