The Delhi government s plan to revise circle rates of residential and commercial areas in the capital is being reworked after objections and suggestions from the finance department. The proposal aims to address the gap between existing circle rates and market rates by proposing a hike of up to 35%. The revenue department is also considering downgrading or upgrading certain colonies based on their location, facilities, and market rates.
Delhi property rates: Experts believe the solution lies in either rationalizing the circle rates or reclassification of colonies as per the prevailing trends and facilities.
URL copied
Delhi Cooperative Housing Finance Corporation slashes interest rates on housing loans
In a good news for home buyers, the Delhi Cooperative Housing Finance Corporation Limited has slashed interest rates on housing loans from 7.45 per cent to 6.75 per cent, an official statement said on Monday. The move comes days after the Delhi government reduced circle rates on properties by 20 per cent.
Cooperative Minister Rajendra Pal Gautam has instructed the corporation to slash the rates on the directions of Chief Minister Arvind Kejriwal, the statement from Delhi government said. With the directions of the Delhi government, the rate of interest for Delhiites to take housing loans has been reduced from 7.45 per cent to 6.75 per cent, said Rajesh Goyal, chairman of the corporation.
Delhi govt reduces present circle rates by up to 20% for next 6 months
Delhi government reduces current circle rates related to residential, commercial and industrial properties by 20%.
(Reuters)Premium
Share Via
Read Full Story
In major financial relief to residents of Delhi, the Arvind Kejriwal government has decided to reduce the current circle rates related to residential, commercial and industrial properties by a flat 20% across all categories of colonies and areas in the national capital.
This will be applicable till 30 September this year. The decision was taken in the Delhi Council of Ministers meet today, which was chaired by Chief Minister Arvind Kejriwal.