Construction Industry News
The Delhi government has ordered that the 20% discount on the circle rates used to determine the stamp duty on real estate transactions be repealed with effect from July 1. Real estate transactions in Delhi are expected to become more expensive.
“The competent authority has decided to stop the relaxation of 20% in circular rates after 30.06.2022. The circle rates as communicated... on 22/09/2014 apply w.e.f. 01/07/2022," according to an order from the revenue department.
During the Covid-19 pandemic in February 2021, the Delhi government announced a circular tariff reduction and extended it twice. It caused an increase in real estate sales.
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