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Follow on Google News | Delhi Property Prices Could RiseAfter the recession induced lows, brace for yet another hike in property rates. Property prices could rise as Delhi mulls circle rate hike.
By: PropertiesHut.com Circle rates — the minimum price per square metre applicable for property deals areawise — were first introduced in July 2007. At present, the city is divided into eight categories where the rates range from Rs 6,900 per sqm to Rs 43,000 per sqm. No deal at rates below this minimum is registered. For some time now, there has been a feeling within the Delhi government that the rates are hardly a fair reflection of market prices and fail to curb black money transactions as intended. Besides, due to the blanket nature of categorization, a resettlement colony falling under area A would effectively command higher prices than what the facilities warrant. Earlier this year, the government set up a committee on the proposal and besides rationalization of rates, authorities have brought up issues such as disclosure of number of floors at the time of registration. Though some sections in the government are talking of a possible increase in property prices if circle rates are hiked, the government’s defence has been that it has made it easier for the middle class to get bank loans. http://www.propertieshut.com/ # # # Properties Hut is a Real Estate and India Property Portal to buy, sell, rent commercial & residential properties in India. We have comprehensive listings of residential & commercial property. http://www.propertieshut.com End
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