Delhi Circle Rate Revision: Proposal for A+ Category
Delhi's government is considering introducing an A+ category for premium areas like Lutyens' Delhi to align circle rates with market values. This change aims to enhance transparency and revenue efficiency by addressing the gap between official and market prices.
The Delhi government is reviewing circle rates with proposals to introduce a new A+ category for elite areas such as Lutyens' Delhi and farmhouse zones. This move aims to align government rates with market values, which have significantly diverged since the last revision in 2014. The proposed A+ category could help modernize Delhi's real estate valuation system, ensuring fairness and transparency. Experts suggest setting a realistic circle rate for the A+ category at ₹10 lakh per square meter. Additionally, there are recommendations to rationalize rates across categories and implement biennial reviews to keep pace with market dynamics.
