Delhi government cancels the 20% circular rate discount

The Delhi government ordered the 20 per cent rebate on the circle rates used to determine stamp duty on real estate transactions to be withdrawn as of July 1. Property transactions in Delhi are anticipated to become more expensive. “The competent authority has decided to discontinue the relaxation of 20% in circle rates beyond 30.06.2022. The circle rates as notified...on 22/09/2014 shall be applicable w.e.f. 01/07/2022,” an order issued by the revenue department said. During the Covid-19 pandemic in February 2021, the Delhi government announced and twice extended a circular rate discount. It caused a rise in real estate sales.