Tag: Lutyens

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Delhi to Revamp Circle Rates for Market-Aligned Property Valuation

Sure! Here’s a rewritten version of the content: NEW DELHI: The Delhi government is preparing for a significant overhaul of circle rates, the first in over ten years, aimed at aligning property values with actual market rates. Key proposals under consideration include creating a new A+ category for ultra-premium areas of Lutyens’ Delhi, revising farmhouse valuations comprehensively, implementing location-based pricing, and establishing a review system to align rates with market shifts. A senior official indicated that stakeholders suggested the A+ category because various localities in Lutyens’ Delhi, where property prices significantly exceed the highest notified rates, currently fall under Category…

Latest StoriesResidential

Delhi’s Lutyens’ Area May Receive ‘A+’ Property Zone Rating

NEW DELHI: The Delhi government is considering numerous recommendations for revising circle rates in the capital. Proposals include establishing a new A+ category for premium neighborhoods in Lutyens’ Delhi, reassessing farmhouse rates, conducting biennial reviews, enhancing data transparency, and forming a stakeholder committee. Officials stated that public feedback has been sought regarding the proposed revisions and is currently under review before finalizing the new rates. Circle rates, which serve as the minimum valuation for land and properties in residential, commercial, and industrial sectors, are often set below market rates. This discrepancy fosters cash transactions and results in revenue losses for…

Latest StoriesResidential

Hyderabad Duo Acquires Delhi Bungalow for ₹140 Crore

NEW DELHI: Sasidhar Chinta and Lakshmi Priyadarshini Chinta from the Hyderabad-based conglomerate Vishwa Samudra Group have acquired an 883-square meter bungalow in Jor Bagh, Delhi, for ₹140 crore, as per official documents. The sale deed was registered in June, and the executives paid ₹8.96 crore in stamp duty. The Vishwa Samudra Group is a multinational conglomerate involved in engineering and infrastructure. The group has not responded to RealtyDailyNews’s email inquiry. The property was owned jointly, requiring signatures from 10 representatives on the seller’s side. This transaction contributes to an ongoing trend of high-value deals in the Lutyens’ Bungalow Zone (LBZ),…

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NDMC to Revise Allotment and Inter-Pool Policies for Lutyens Flats

Representative image created by AI NEW DELHI: The New Delhi Municipal Council (NDMC) is set to revise its policy regarding the allotment of flats and inter-pool housing in Lutyens’ Delhi. During the recent council meeting, it was noted that 10-11 duplex bungalows in Lutyens’ Delhi remain unvacated despite officer transfers, and that flats allocated under the inter-pool policy have not been officially transferred back to the council. The issue was brought to attention by NDMC Vice Chairman Kuljeet Chahal. Meeting minutes revealed that one ex-officio member was unable to occupy a flat months after the council’s formation due to unavailability.…

Latest StoriesResidential

Yashwant Singh Purchases ₹100 Crore Bungalow in South Delhi

AI-generated Representative Image Yashwant Singh, a member of a royal family in Rajasthan, has acquired an 867-square-meter bungalow in South Delhi’s Golf Links for ₹100 crore. He paid ₹7 crore in stamp duty and corporation tax, according to documents from CRE Matrix, a real estate data analytics firm. The property was sold by Anu Jindal, a resident of DLF The Camellias. Jindal’s husband, Jai P. Jindal, who leads an art glass business, confirmed the sale, stating they intend to relocate to The Camellias. According to Jindal, the buyer belongs to a royal lineage from Alwar and also owns a bungalow…