Buying House In Delhi To Cost More As Delhi Government Will Not Extend Rebate In Circle Rate
Property Prices To Go UP In Delhi: If you are...
Property Prices To Go UP In Delhi: If you are thinking of buying property in the capital Delhi, then you are going to be shocked. Buying property in Delhi is going to be expensive. In fact, it has been decided to do away with the 20 per cent discount in circle rate that was being given on buying property in Delhi. The Kejriwal government of Delhi is not going to extend the provision of discount of 20 percent in the circle rate any further after June 30, 2022. This will make it costly from the purchase of the property to the registration.
In fact, to give a boost to the housing sector and the economy during the Corona epidemic, a discount of 20 percent in the circle rate was announced from April 1, 2021 to September 30, 2021. This exemption was given on all types of residential, commercial or industrial properties. The Delhi government had earlier extended its period till December 31, 2021 and later till June 30, 2022. This decision of the government also got tremendous benefit. The money spent on property registry was saved. This helped in increasing the demand in the real estate sector.
But now the economy is coming back on track, so there is a jump in property prices. In such a situation, the Delhi government does not want to extend this exemption after June 30, 2022. Actually the property of Delhi was divided into 8 categories from A to H. Posh areas were put in category A while less developed areas were kept in category H.
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