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Wednesday, June 4, 2014

Rent and property prices in Delhi set to soar as government prepares to revise circle rates to include 'luxury' category

Be prepared to shell out more for buying or renting property in the Capital. Property prices are set to reach new heights as the Delhi government is all set to revise circle rates across various categories. 

But the catch lies in the fact that some of the areas which fell in Category A earlier will now see a new classification – 'A1'. 

"Colonies and areas with similar market rates will see re-categorisation now. Right now, there is still some ambiguity between some areas in Categories C and D as well as A and B. 

Circle rates: With the new revision, property prices in localities like Golf Links will shoot up
Circle rates: With the new revision, property prices in localities like Golf Links will shoot up

"So, the classification will be clearer this time," a senior Delhi government official said. 

At present, the colonies that fall under Category A such as Vasant Vihar, Friends Colony, Shanti Niketan, and Maharani Bagh pay uniform circle rates. 
The circle rate is the minimum valuation at which properties have to be registered with the government.


with thanks : Daily Mail : LINK : for detailed news.

1 comment:

  1. Well and informative content given about Property trend in Vasant Vihar - South Delhi. Thanks for given this information here about this blog.
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