Kolkata: West Bengal Lowers Circle Rates in Select Areas
KOLKATA: The state government has revised the circle rates in various localities in Kolkata, including Salt Lake and New Town, addressing concerns that recent increases of 80%-90% significantly raised the financial burden of stamp duty and registration fees for homebuyers. According to insiders from the directorate of registration and stamp revenue in the finance department, this adjustment of the circle rate—which establishes the minimum property price for official sale and purchase registration—was made in response to appeals from organizations such as the West Bengal chapter of the Confederation of Real Estate Developers Association of India (Credai). They pointed out discrepancies…