NEW DELHI: The Delhi Government has decided to extend the reduction in circle rates of residential, commercial, industrial and other properties by 20 per cent till June 30, 2022.
Revenue Minister Kailash Gahlot said that with a third wave of Covid ensuing, it is the duty of the Delhi government to take all steps to reduce the financial burden on the common man.
The decision has to made it substantially cheaper for people to do property transactions and help revive real estate sector.
After the first wave of the pandemic last year, the government had decided to reduce the prevalent circle rates by 20 percentage points. This came in effect in February this year and remained till September.
After the Delta variant-fueled second wave, it was further decided to extend it three more months with effect between October 1 and December 31,” the revenue minister said.