New Delhi: The Delhi government on Thursday extended 20% relaxation at a circle level for three months, until December 3, through notice.
The government has cut the rate of circle, or the minimum level for land assessment and property is not moved in the capital, by 20% for all categories for six months earlier this year.
The aim is to bring assistance to home buyers and provide a urge that is very much needed for the real estate sector.
The rate of decline, which began to apply from April 1, this year, is valid until September 30.
“The 20% discount in the circle level will continue.
When this pandemic, Delhi people will not be allowed to face problems.
Will stand with them in every front,” Chairman of the Minister of Arvind Kejriawal Tweeted in Hindi on Thursday night.
“With the city slowly recovering from after Covid, this is the other good news for Delhies !!! We have increasingly extended the 20% slash in line circles until December 31 21.
Under the Arvind Kejriwal cm, Delhi Govt will support the public at any time,” Minister of Revenue Kailash Gahlot tweeted.
Earlier this year, the government said the 20% reduction in the circle level would have a close impact with a reduction of 1% in stamp duty or registration fees.
Circle circles are the minimum level at which sales or transfer plots, houses, flats or commercial properties can occur.
At the time of property registration, CAT CAP is calculated based on the number of considerations or levels of circle, which is higher.
In Delhi, stamp duty is 6% of the number of considerations or levels of property circles, if the property is registered in the name of men and 4% in the case of women.
The decision was taken with confidence that it would make it substantially cheaper for people to make property transactions, revive the real estate sector, which has been exposed to a pandemic, and created a new job.
Although the reduced level came into force since April, the second wave of Covid which was awesome also meant that, at least for two months, all business transactions in the city took the hit and the extension of the price decline could be used by caregivers of the fence to buy property.
Delhi: Relaxation at a 3-month extended circle level
