Circle rates in capital go up by 20 per cent

So, for category A colonies such as Jor Bagh, the circle rate was hiked to Rs 7,74,000 per sqm from Rs 6,45,000 per sqm, set during the last revision in December 2012. For category C colonies such as Punjabi Bagh, the circle rate for residential use was hiked from Rs 1,33,200 per sqm to Rs 1,59,840 per sqm.

For minimum land rates for public utilities such as private schools, colleges and hospitals, and land for industrial use land, the factor used to arrive at the land cost stays the same.

The notification issued by the Revenue department stated that for flats with more than four storeys, a uniform rate per sqm of Rs 87,840 will be taken as minimum value of built-up rate for residential purpose. Till now, the rate for the same was Rs 73,200 .

For commercial purpose in the same category, the rate has been hiked from Rs 84,000 per sqm to Rs 1,00,800 per sqm. For multi-storey flats by private builders a multiplying factor of 1.25 will be employed, the notification said.

Irrespective of the area category, rates for DDA colonies and group housing societies have been hiked by 20 per cent as well.

For DDA group housing society flats up to 30 sqm, the rate has been hiked to Rs 50,400 per sqm from 42,000 per sqm. For flats above 30 sqm and below 50 sqm, the circle rate is Rs 54,480 per sqm.

For properties bigger than 50 sqm and 100 sqm, the rate is Rs 66,240 per sqm. The rate for 100 sqm has been set at Rs 76,200 per sqm, up from Rs 63,500 per sqm.

For cooperative societies, if used for commercial purposes, the rate for 30 sqm has been set at Rs 57,840 per sqm compared to the earlier rate of Rs 48,200 per sqm. For 100 sqm, the rate is Rs 87,360 per sqm, up from Rs 72,800 per sqm.

Senior officials said a committee comprising members from various local bodies went through the actual market prices and compared it with existing circle rates on basis of various parameters to revise and set the new circle rates.

The government has also increased the cost of construction in various categories.

The increase is 20 per cent across categories.