Real Estate Sector In Delhi: The Delhi government has decided to extend the deadline for rebate of 20 per cent in circle rate on purchase of property in Delhi. However, its formal announcement is yet to be made.
Big Relief For Homebuyers In Delhi: There is news of relief for people thinking of buying a house in the capital Delhi. The Delhi government has decided to extend the deadline for rebate of 20 per cent in circle rate on purchase of property in Delhi. However, its formal announcement is yet to be made. But it is believed that the provision of exemption will be extended till 31 December 2022. This exemption will be applicable on all three types of residential, commercial property and industrial. Earlier this deadline of this exemption was ending on June 30, 2022.
However, if the Delhi government extends the deadline for giving 20 percent rebate on circle rate, then those who buy capital Delhi property will get a big advantage. With the extension of the deadline of this provision, huge discounts will be available from registration to purchase of property in Delhi.
In fact, to give a boost to the housing sector and the economy during the Corona epidemic, a discount of 20 percent in the circle rate was announced from April 1, 2021 to September 30, 2021. This exemption was given on all types of residential, commercial and industrial properties. The Delhi government had earlier extended its period till December 31, 2021 and later till June 30, 2022. This decision of the government also got tremendous benefit. People were saved by the money being spent on property registry. This helped to increase the demand in the real estate sector and help in recovering from the crisis.
Actually the property of Delhi is divided into 8 categories from A to H. The posh areas were put in category A while the less developed areas were kept in category H. Earlier it was feared that the Delhi government would not extend this exemption after June 30, 2022.
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