New circle rates come into effect

The new circle rates the minimum valuation at which properties have to be registered with the government came into effect in Delhi on Wednesday, which is likely to push up property prices in the city.

The rates in Category A colonies have been hiked by 200 per cent, category B by 50 per cent while in remaining coloneis the rates will go up by 22 per cent.

The government order states that Rs 6.45 lakh per square metre has been fixed as new circle rate for category A colonies like Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas.

This means nobody would be allowed to buy land and immovable properties in these colonies for less than Rs 6.45 lakh per square metre.

The existing circle rate in category A colonies is Rs 2.15 lakh.

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