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Chief minister Rekha Gupta on Saturday directed the revision of circle rates of properties across all categories in the city, and formed a committee to study the same, officials aware of the matter said on Saturday.
Chief minister Rekha Gupta. (HT Photo)
The revision will likely include both decreasing and increasing of the circle rates in city areas “due to the existing inconsistencies”, which were also flagged by the CM during the meeting of the government-industry task force at the Delhi Secretariat, the officials added.
Circle rates are the minimum value assigned to a property for registration purposes by the government, used as a benchmark for property valuation and stamp duty calculation.
During Saturday’s meeting, the CM directed an assessment of the existing circle rates. The meeting was attended by minister Manjinder Singh Sirsa, officials from the Municipal Corporation of Delhi, Delhi Development Authority, Delhi Metro Rail Corporation, Registrar of Co-operative Societies, and representatives from the Confederation of Indian Industry (CII), who are part of the task force.
“The final decision regarding the revision, including if the rates will be increased or decreased, will be taken by the government on the basis of the report of the committee,” a senior revenue department official said familiar with the development said, asking not to be named.
The committee, to be headed by the divisional commissioner, will submit a detailed report soon based on current market conditions and property values, which will then be used as the basis for revising the circle rates, according to officials.
HT on Thursday reported that the task force had recommended that circle rates for commercial and industrial property in Delhi should be reduced, as they are higher than neighbouring Gurugram and Noida and even Mumbai in some cases. On Tuesday, it had submitted its report to LG VK Saxena and industries minister Sirsa.
In premium residential areas, Delhi’s circle rates are disproportionately high at ₹7.74 lakh per square metre, the report stated, while the highest residential circle rate is ₹5.5 lakh/sqm in Gurugram and ₹1.19 lakh/sqm in Noida. For commercial areas, circle rates are ₹69,820-23.3 lakh/sqm, while in Gurugram, the maximum rate is ₹2.36 lakh/sqm and ₹1.19 lakh/sqm in Noida.
Maximum circle rate in Mumbai’s residential areas is ₹2.36 lakh/sqm and in commercial areas is ₹2.71 lakh/sqm, both lower than in Delhi as per the report.
The last time circle rates were revised in Delhi was in September 2014, when the government implemented the 4th revision of minimum rates for land and immovable properties. In 2022, a proposal was submitted by the former AAP government to increase the circle rates in some areas but it could not be implemented due to multiple factors including objections from the finance department.
The task force in a report also made recommendations for the overall development of the city, including a single-window clearance system, standardised development control norms across all agencies, and time-bound approvals for large-scale projects. The 10-point report also recommended reduction in amalgamation charges for commercial plots, doing away with revised layout plans in MCD areas, green building policy to incentivise sustainable infrastructure development, rationalisation of property tax, optimum utilisation of land allotted to DMRC and reduction in floor-area ratio for hotel and other commercial plots.
The task force also proposed that slum redevelopment should be encouraged under the Public-Private Partnership (PPP) model, allowing for commercial activities within such projects.
Meanwhile, the CM directed expediting development in unauthorised colonies, and sought a detailed report on ownership rights and property registration in these areas.
Gupta also stressed on the need to make construction-related procedures simple, transparent, and accountable to avoid unnecessary delays in developmental works, the CM’s office said in a statement.
“To make Delhi’s business environment more efficient, transparent, and investor-friendly, the task force has been given responsibilities to submit report on facilitating ease of doing business. The task force will work in coordination with various departments and agencies to review existing processes related to entrepreneurs, businesses, and start-ups. It will evaluate existing policies and submit a report recommending automation and time-bound implementation of reforms,” the CM said.
On the issue of high amalgamation charges for commercial plots, she directed the task force to include residential plots under the proposed framework so that a harmonised and integrated policy can be developed.
The CM also asked the task force to include residential buildings in the green building policy and directed it to design a broader and more effective policy that incorporates residential areas, ensuring the promotion of sustainable development.
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