As in Maharashtra, buying property in Delhi is cheaper. This is possible after the Kejriwal government made a major decision on Friday. The Delhi government on Friday cut the zonal rate of residential, commercial and industrial properties in all areas by 20 per cent, making it cheaper for people to buy real estate in the national capital. The decision was taken at a cabinet meeting chaired by Chief Minister Arvind Kejriwal.
By 30 September 2021, the circle rate has fallen by 20 per cent
By September 30, 2021, zonal rates for residential, commercial and industrial properties in all classes of settlements and areas have been reduced by 20 per cent, a Delhi government official said. Kejriwal hopes the move will help bring the economy back after the Kovid-19 epidemic. “While we are slowly recovering from the economic turmoil in the post-Kovid era, it is our government’s duty to take all measures to reduce the financial burden on the general public,” he said.
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With this decision, people are expected to buy and sell property, revitalize the real estate sector and create new jobs, he said. Deputy Chief Minister Manish Sisodia said this is a great solution for those who want to buy property and it will promote the real estate sector. A 20 percent reduction in the circle rate reduces stamp duty or registration fees by one percent.
The effect of reducing duty in Maharashtra
The same can be expected in Delhi, as the real estate sector in Maharashtra has shone again by halving stamp duty. Explain that there is a lag in the real estate sector across the country, including Delhi. It has existed since pre-Corona times. During Corona, the jobs of millions of workers were also gone. This has hit the real estate sector twice.
