Delhi Cabinet approved Circle rates for valuation of land, propertie

New Delhi, June 18 (UNI) In what could be seen as an effort to check "black money" transactions in property, the Delhi Government today approved minimum rates (circle rates) for valuation of land and properties for purposes of registration under the Registration Act, 1908 in Delhi.

Categorisation of colonies used by the Municipal Corporation of Delhi (MCD) for determining House Tax has been adopted for computation of value of land and properties. It has also decided to make no changes in circle rates for the next five years.

In other decisions, taken today in a Cabinet meeting presided over by Delhi Chief Minister Sheila Dikshit, the Cabinet also approved improvements in the Delhi Government Employees Health Scheme to make it more comprehensive, purposeful and employee friendly. Apart from this, it has given its nod for increase in intake in technical institutes functioning from Lal Dora/extended Lal Dora, affiliated with GGSIP University.

Addressing newspersons after the Cabinet meeting, the Chief Minister said her government has taken into consideration all aspects during finalisation of circle rates in Delhi. Ms Dikshit added that new circle rates would simplify assessment of stamp duty and bring in transparency, simplicity and efficiency in the process of registration.

''It has been decided to adopt the most reasonable option which makes circle rates rational and below the market rates. The rates approved are much below the prevalent rates of adjoining areas like Noida,''she said.

The categorization of properties is based on the MCD categorization. The minimum rate for valuation of land for residential use approved by the Cabinet are Category A - Rs.43,000/- per sq. m; Category B : Rs 34,100/-; Category C - Rs 27,300/-; Category D - Rs 21,800; Category E - Rs 18,400/-; Category F - Rs 16,100/-; Category G - Rs 13,700/- and Category H - Rs 6,900/- per sq. m.

Ms Dikshit said the circle rates would come into force after the issue of a notification.

Mrs Dikshit made it clear that her government would not effect any change in circle rates which have been determined on the calculations pertaining to year 2005. It has also fixed most reasonable average cost of construction of Rs 5,600/- per sq. meter (Rs 500 per sq. feet) of plinth area for calculating cost of built up properties.

The Cabinet has approved a different set of minimum rates for built up flats. Where a flat is sold as a unit regardless of the age factor or categorisation of the colony in which the flat is located, depending upon the classification of the flat at Janta, LIG, MIG or HIG, the minimum rates would depend on its plinth area.

The rates would be applicable for DDA colonies/cooperative and group housing societies. Rs 8,600/- per sq. meter would be applicable for a flat upto plinth area of 30 sq. meter; Rs 9,300/- for plinth area above 30 and upto 50 sq. meter; Rs 11,300/- for plinth area above 50 and upto 100 sq. meter and Rs 13,000/- per sq.

meter for plinth area above 100 sq. meter.

For flats in buildings having more than 4 storeys, a uniform plinth area rate of Rs 15,000/- per sq. meter would be applicable as the minimum value of built up flats. For multi-storied flats by private builders, a multiplicative factor of 1.25 would be applicable.

The introduction of circle rates in the city, a measure that was announced in this year's Delhi Budget, is being seen as a step to stem "black money" transactions in property.

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