- August 07, 2021
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Realtors demand lower circle rate in Delhi and Gurugram
Realtors in Delhi have demanded an extension of lower circle rates, or floor prices, by a fifth in the national capital and rollback of proposed increases by up to 90% in these tariffs for the satellite town of Gurgaon. With the second wave negatively impacting the economic recovery, real estate experts believe the sector needs continued support from the government. Delhi had announced a reduction in circle rates from March 1 to next six months while Gurgaon had raised rates from April. “Revenue offices were closed for almost two months in Delhi due to the lockdown, so the benefit of reduced circle rates should also be extended by at least two months,” said Amit Goyal, the India chief executive at Sotheby's International Realty. “There has been a lot of demand for high-end properties. The decision by the Gurgaon administration to hike the circle rate came at the wrong time, immediately before we were hit by the second wave.”
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