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BJP opposes proposed hike in circle rates

BJP Tuesday strongly opposed Delhi govt`s proposal to hike circle rates - the minimum valuation of land and immovable properties - by upto 200% in posh colonies in the city, which is likely to trigger hefty rise in property rates.



New Delhi: BJP Tuesday strongly opposed Delhi government`s proposal to hike circle rates -- the minimum valuation of land and immovable properties -- by upto 200 per cent in posh colonies in the city, which is likely to trigger hefty rise in property rates.

Criticising the move, senior BJP leader V K Malhotra said, "There was no justified logic" behind the move as any further increase in the rates would make it "extremely difficult" for Delhiites to buy properties in the city.
"The government should have taken steps to control spiraling rates of the properties in Delhi so that common people could own a house. But the government is doing the contrary," he said.

The government is considering a proposal to hike the circle rates to stop "flow of black money" in property transaction so that government does not lose revenue from registration fee and stamp duty. The city government had increased the circle rates in February this year by over 100
per cent.

"The government should not shatter the dream of poor man to have a shelter over his head in Delhi by increasing circle rates," Malhotra said.
Circle rate was first introduced in the city to ensure that no one can buy or sell a property below the government fixed rates.

Officials said the circle rates have been proposed to be increased in the range of 50-200 per cent.

PTI

From Zee News

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