CIRCLE RATES IN NCT OF DELHI

In order to keep check on price speculations, the State Government decides the Circle Rates in the city of New Delhi, for different localities. These Circle Rates are the minimum property prices at which a sale of a property can take place. The Circle Rates in New Delhi are decided by the Delhi Government. Usually, the Circle Rates in New Delhi are reviewed annually, to keep them line with the market rates. However, in a recent announcement, Finance Minister Nirmala Sitharaman has allowed the homebuyer to buy a home at a 20% lower value than the Circle Rates. This new norm will be applicable to properties priced below Rs. 2 Crores, till June 30, 2021.