Revision of Property Circle rates in Delhi
Delhi
Respected sir,
I would like to draw your attention to the anomaly in property circle rates for revenue and registration in Delhi as notified since 2014. The rates of Category -A are matching with market rates, while all other categories from Category -B to E are far less then the prevailing market rates
This is surely resulting in loss of revenue through registration fees as well as flow of black money into property transactions. You may wish to advice your Revenue department to check and revise the circle rates of Category B to E to double from current rates, to match with market rates. This revision will enable Delhi State increase its revenue from stamp duty and also help reduce the stamp duty rates as popular measure for the benefit of citizens of Delhi.
Your favorable response will be appreciable.
With best regards
N K SOMANI
Income Tax dept
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