Rise In House Price Due To Hike In Delhi Circle Rates

By Author: Sandeep Kmmr
Total Articles: 3
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The Delhi government had increased circle rates up to 200 per cent to check black money in transactions. This can lead to anrise of housing prices in the nation's capital. Circle rate is the minimum valuation of land and property.

Ratesincreased by 200 percent in category A colonies like Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and HauzKhas. Accordance with the rates approved by the Delhi Council of Ministers on Wednesday, Rs 6.45 lakh per square meter has been fixed as new circle rate category A colonies, against current rate of Rs 2.15 lakh. This means that nobody is allowed to buy land and property in these colonies under lakh to Rs 6.45 per square meter.

Rates in neighborhoods Class Bsuch as Andrews Ganj, Kalkaji, MunirkaVihar and Nehru Enclave have increased by 50 percent, while for other sectors, the increase has been set at 22 percent. According to the Cabinet decision, Rs 2, 04,600 per square meter has been fixed for colonies Category B against current rate of Rs 1, 36,400 per square meter.

The Council of Ministers adopted a favorable position ...
... to make higher rates in the colonies in categories C, D, E, F, G and H for colonies of C category, price raised toRs 1,33,224 square meter of current Rs. 1,09,200 while in the districts of category D, the new rates will be Rs 1,06,384 against the current rate of Rs 87,200. The rate for the category E colonies increased from Rs.47, 840 to Rs 58,365 per square meter, while for category F colonies of the fee shall be Rs 47,140 against current rate of Rs 38,640. As colonies category G, the new rate is Rs 38,442 per square meter, compared with existing Rs. 31,510, while for class H colonies was increased Rs19,361 to Rs 15,870.

House prices remained on an upward trend despite low transaction volumes, higher interest rates and slower economic growth as the offer was limited to fewer projects are added, especially in key markets such as Mumbai and Delhi due to delays in government approval

According to the Reserve Bank of India quarterly House Price Index, house prices in all-India level increased by 24 per cent a year during the three months ended June. Increase of 42 per cent per year in prices of real estate in Delhi during the quarter April to Junesaw fell of nearly 11 percent of sales.

According to Nomura, the steady rise in property prices is one of the many reasons why consumption has remained well supported and inflation expectations remained high. The steady increase in physical assets has also encouraged households to divert savings away from financial assets.This may partly explain the increased funding reimbursements actions. Net redemptions of mutual fund shares rose for a fourth consecutive month in September.

Quarterly Index of RBI housing prices is based on data from nine cities. On a quarter-on-quarter basis, housing prices raised 6.7 percent level across India. Transaction volumes increased by 6.4 percent.

I Sandeep Kumar and Writing for 101acres about commercial property , commercial property delhi and commercial property in delhi .