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Property registrations: Delhi govt extends 20% cut in circle rates till June 2022

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The extension of 20 percent relaxation in circle rate will help Delhi's COVID-hit real estate sector. The rebate scheme was launched in February this year amid the COVID-19 pandemic and was to end on September 30, officials said. In September, it was extended till December 31.

Property registrations: Delhi govt extends 20% cut in circle rates till June 2022
The Delhi government on Thursday extended the 20 percent rebate on circle rate for land and immovable property till June 30, 2022, according to an order issued by the Revenue Department. The extension will come into force with immediate effect, the order stated.
In a tweet, Delhi Revenue Minister Kailash Gahlot said, "The 20% reduction in circle rates for all categories announced by Delhi govt will continue till 30th June 2022. Under Hon'ble CM @ArvindKejriwal ji's guidance, we assure all Delhiites that we will continue to stand with our people in times of need. "
The minister also shared a copy of the order. "....Lt Governor of the National Capital Territory of Delhi hereby notifies the extension of relaxation of 20% in the minimum rates (Circle rates) till 30.06.2022 for valuation of lands and immovable properties in Delhi...," the order read.
The rebate scheme was launched in February this year amid the COVID-19 pandemic and was to end on September 30, officials said. In September, it was extended till December 31.
The extension of 20 percent relaxation in circle rate will help Delhi's COVID-hit real estate sector, the officials said. According to Revenue Department officials, properties in Delhi are divided into eight categories from 'A' to 'H'. While posh areas fall under the 'A' category, the least developed areas come under the 'H' category.
Under the government's rebate scheme, the existing circle rate of land in 'A' category areas will go down from Rs 7.74 lakh per square metre to Rs 6.19 lakh, the officials said. In 'H' category areas, the circle rate will be reduced from Rs 23,280 to Rs 18,624 per square metre, they said.
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