Tag: Circle rates in Delhi

Industry

Delhi CM forms panel to revise circle rates

NEW DELHI: Delhi Chief Minister Rekha Gupta on Saturday formed a committee for revision of circle rates as it was learnt that there was a mismatch between the existing circle rates and the prevailing market rates, according to an official statement. This decision was taken at a high-level meeting with the task force to discuss issues related to better infrastructure in the capital, ease of doing business, unauthorised colonies, housing societies, redevelopment of colonies and modernisation of infrastructure in industrial zones. The CM emphasised the need to make construction-related procedures simple, transparent and accountable to avoid unnecessary delays in developmental…

Industry

Key reforms proposed to boost Delhi’s real estate market

NEW DELHI: In a move aimed at simplifying regulations and boosting investors’ confidence, the joint govt-industry taskforce on real estate reforms has submitted a comprehensive report outlining key reforms for the sector in the city. One of the key recommendations is a substantial reduction in amalgamation charges for integrated commercial schemes. Currently, the charges stand at 10% of the circle rates, considered a major deterrent to development. The taskforce suggested lowering this fee to just 1% of the circle rates. Addressing the redevelopment of group housing, DDA housing and cooperative societies, the report advocates allowing redevelopment by default, especially for…