After having a bitter squabble with the Lt Governor Tejendra Khanna over fixing
new circle rates, Delhi Government on Monday finally issued a notification hiking the fee by over 100 per cent which will lead to a hefty rise in
property rates.
Revenue Minister Raj Kumar Chauhan said the revised circle rates - the minimum valuation of land and immovable properties - will come into effect from February 8.
Chief Minister Sheila Dikshit and Lt Governor had locked horns over the issue after he rejected twice the Delhi cabinet's decision to increase circle rates in the capital.
Officials said Rs 86,000 per sq m has been fixed for category A colonies like Defence Colony, Greater Kailash, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Hauz Khas and Nehru Place. The existing circle rate in these colonies is Rs 43,000 per sq m.
Rs 68,200 per sq m has been fixed for colonies like Andrews Ganj, Kalkaji, Munirka Vihar and Nehru Enclave.
Similarly for category C colonies the rate has been fixed at Rs 54,600 per sq m while for category D colonies it will be Rs 43,600.
For category E and F, the rate has been fixed at Rs 36,800 and Rs 32,200 respectively while for categories G and H it has hiked to Rs 27,400 and Rs 13,800 respectively.
The notification for revised rates has been issued after Union Home Ministry apparently opined that the Lt Governor should agree when the cabinet in-principle decides on a issue.
Khanna in November last year had refused to approve the rates finalised by the Cabinet and had suggested that circle rates should be increased further in top colonies whereas rates should be slashed where basic infrastructure is not up to the mark.
Chauhan said hiking the existing circle rates will help the government to collect more revenue from property transaction as often rates are shown lower than the actual rate for registration of properties.
The circle rates were first introduced in Delhi in 2007, dividing the city into eight categories.
Officials said the revised rates will increase the property rates in the city.
Chauhan said even after the revision, the circle rates in Delhi will still lower than what they are in the adjacent areas in Haryana and UP.
The minister said the government's revenue collection from Stamp duty and registration fee has also shown a remarkable increase in comparison to the previous financial year.
The government collected Rs 1,370.72 crore as stamp duty up to January 2011 against Rs 843.72 crore in the corresponding period of previous financial year.
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