The word hike is now becoming a common word for the Indian market. After the hike of many essential goods and properties, bank rates now government is planning to increase the circle rates at the capital city. According to the sources of www.propertykhazana.com all the posh localities of the national capital like Defense colony, Golf link and Gulmohar Park will be affected by the recent decision of the hike in circle rates. Probably the rise may touch up to 200 per cent. As a measure to stop irregularities in property dealings and to increase the worth of the property the increase in the circle rates are necessary as stated by the senior officials of the Delhi Revenue Department.
However the statement cannot be fully agreed though the government has made their mind to stick with hike business for the civilians. At most cases no clear rates of the property is mentioned in the deed paper and so a less amount of stamp duty get pocketed to the government account. Earlier the circle rates were increased to around 100 percent during the pre election times.
Source: NIMMA BENGALURU
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