Real Estate

Real Estate Transactions

Delhi Govt discontinues 20% circle rate rebate

Economic Times  

The Delhi government has decided to end the benefit of 20% reduction in circle rates and has approved the municipal corporation's proposal to increase transfer fee on purchase of property from July 1. The move will impact property transactions, which had gained momentum because of the benefit announced by the government. In December 2021, the Delhi government had extended 20% lower circle rates until June 30, 2022. The Municipal Corporation of Delhi (MCD) has also decided to increase transfer fees. The transfer duty will be 4% for men, up from 3% currently, and 3% for women, up from 2%.