The new circle rate regime, intended to tackle the black market, is all set to come into effect from Tuesday. In keeping with the decision of the Delhi cabinet led by chief minister Sheila Dikshit, the office of lieutenant governor Tejendra Khanna has notified the new rates that are double those of the existing rate structure. The minimum (Circle) rates for valuation of lands and immovable properties for registration in Delhi have been revised, a statement from the office of Minister of Revenue Raj Kumar Chauhan stated late on Monday evening. The new rates will come into force with effect from Tuesday.
Chauhan said that the revised rates shall be taken into consideration for registration of instruments relating to land and immovable properties in Delhi by all the registration authorities under the provision of the Indian Stamp Act at the time of registration of instruments under the provisions of Registration Act.
with thanks : times of India : link above for detailed news.
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