Delhi's circle rate revision plan revisited due to concerns
Real Estate

Delhi's circle rate revision plan revisited due to concerns

The Delhi government's initiative to revise circle rates for residential and commercial zones is undergoing reevaluation. A previous proposal, aiming to introduce sub-categories with multiple circle rate slabs, was returned by the finance department with suggestions and objections.

To address the gap between current circle rates and market property values, a potential increase of up to 35% is being considered. Moreover, the government is open to adjusting certain colonies' categories based on location, facilities, and market rate feedback.

Circle rates, which establish the minimum property valuation rates, were last raised for residential areas across categories in 2014. While rates for agricultural land were increased this month, going from Rs 5.3 million per acre in 2008 to Rs 20 million to Rs 50 milliondepending on location.

Despite forming committees and working groups since 2016 to propose rate revisions, no definitive decision was reached. The importance of updating circle rates to match market rates was highlighted by former Deputy CM Manish Sisodia in 2022, aiming to boost government revenue. However, a polished final proposal remains pending.
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The Delhi government's initiative to revise circle rates for residential and commercial zones is undergoing reevaluation. A previous proposal, aiming to introduce sub-categories with multiple circle rate slabs, was returned by the finance department with suggestions and objections.To address the gap between current circle rates and market property values, a potential increase of up to 35% is being considered. Moreover, the government is open to adjusting certain colonies' categories based on location, facilities, and market rate feedback.Circle rates, which establish the minimum property valuation rates, were last raised for residential areas across categories in 2014. While rates for agricultural land were increased this month, going from Rs 5.3 million per acre in 2008 to Rs 20 million to Rs 50 milliondepending on location.Despite forming committees and working groups since 2016 to propose rate revisions, no definitive decision was reached. The importance of updating circle rates to match market rates was highlighted by former Deputy CM Manish Sisodia in 2022, aiming to boost government revenue. However, a polished final proposal remains pending.

Next Story
Infrastructure Energy

Orb Energy Achieves Rs 3 Bn Milestone in Solar Financing Success

Orb Energy, a vertically integrated solar energy solutions provider, has achieved a significant milestone by surpassing Rs 3 billion in financing disbursements through its in-house finance facility that requires no collateral or down payment. This accomplishment underscores its dedication to supporting small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India in transitioning to cost-effective solar energy solutions. The company has installed approximately 350 MW of solar photovoltaic systems nationwide, with a strong foothold in southern and western India...

Next Story
Infrastructure Energy

90% Defaulters Yet to Settle Rs 3.17 Bn Power Dues in Noida

Out of a total of 1.31 lakh defaulters in Noida, only 13,500 consumers availed of the one-time settlement (OTS) scheme during its first phase. The Uttar Pradesh Power Corporation (UPPCL) launched the scheme in three phases, from December 15, 2024, to January 31, 2025. These consumers cleared dues amounting to Rs 300.40 million out of a total Rs 3.47 billion owed. Officials emphasized that stricter enforcement of the scheme would be implemented in the coming phases. During a recent weekend meeting with the technical team of the power department, the Noida zone's chief engineer instructed that..

Next Story
Infrastructure Energy

NER Invites Bids for 10 MW Rooftop Solar Projects in Uttar Pradesh

The Varanasi division (electrical) of Northeastern Railway has recently issued four tenders for a total of 10.4 MW on-grid rooftop solar systems to be installed at various buildings in Gorakhpur, Uttar Pradesh. The tenders include different project capacities, with submission deadlines set between January 31 and February 3, 2025. Bidders are required to submit earnest money deposits (EMDs) ranging from Rs 0.89 million to Rs 1.2 million depending on the tender, with the expected project costs varying between Rs 148 million and Rs 174.08 million. The selected contractors will be tasked with sup..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000