Delhi property prices may rise as government plans revision of circle rates
Delhi properties are expected to become more expensive in the coming months, with the Delhi Government initiating steps to revise the existing circle rates. In a high-level meeting chaired by Chief Minister Rekha Gupta, a directive was issued to form a committee led by the Divisional Commissioner to re-evaluate the prevailing rates, which currently vary widely across different parts of the city.advertisementThe committee has been tasked with presenting a report aligned with current market conditions and property values.The meeting focused on enhancing infrastructure and improving the ease of doing business in the national capital. It was attended by Cabinet Minister Manjinder Singh Sirsa, officials from the Municipal Corporation of Delhi (MCD), Delhi Development Authority (DDA), Delhi Metro Rail Corporation (DMRC), Registrar of Co-operative Societies and representatives of the Confederation of Indian Industry (CII).
Addressing the development of unauthorised colonies was a key priority. The DDA and Urban Development Department were instructed to submit detailed reports on ownership rights and property registrations in such areas. These efforts aim to resolve legal ambiguities and accelerate developmental work in neglected zones.To make Delhi more business-friendly, the task force was urged to simplify and automate regulatory procedures. The emphasis was on establishing a single-window clearance system, introducing uniform norms and ensuring time-bound approvals.advertisementThe reduction of amalgamation charges for residential and commercial plots was also discussed as a move to ease real estate transactions.In a notable policy shift, the Green Building Policy - so far applicable only to commercial structures - will now extend to residential areas. This expansion aims to prioritise environmentally sustainable development city-wide, balancing growth with ecological concerns.
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Time of India
3 hours ago
- Time of India
Delhi CM forms panel to revise circle rates
NEW DELHI: Delhi Chief Minister Rekha Gupta on Saturday formed a committee for revision of circle rates as it was learnt that there was a mismatch between the existing circle rates and the prevailing market rates, according to an official statement. This decision was taken at a high-level meeting with the task force to discuss issues related to better infrastructure in the capital, ease of doing business, unauthorised colonies, housing societies, redevelopment of colonies and modernisation of infrastructure in industrial zones. The CM emphasised the need to make construction-related procedures simple, transparent and accountable to avoid unnecessary delays in developmental works. During the meeting, she directed for the revision of circle rates and announced the formation of a committee under the chairmanship of the divisional commissioner to carry out this task, the statement added. The committee will submit a report based on current market conditions and property values, which will then be used as the basis for revising the circle rates, it said. Accroding to available information, the agricultural land circle rate was last revised to Rs 53 lakh per acre by the Delhi government in 2008. Gupta directed all civic agencies to take proactive steps for the improvement of unauthorised colonies. She also directed the DDA and Urban Development Department to prepare a report addressing issues related to ownership rights and property registration in these colonies. In the meeting, the task force also presented a report which included several key recommendations for the city's development. Key proposals in the report included the implementation of a single-window clearance system, standardised development control norms across all agencies, and time-bound approvals for large-scale projects. The 10-point report also recommended a reduction in amalgamation charges (costs associated with merging two or multiple commercial plots into one) and no requirement of revised layout plans in MCD areas, having a green building policy to incentivise sustainable infrastructure development. They also suggested rationalising property tax, optimising utilisation of land allotted to DMRC and reducing floor area ratio (FAR) for hotels and other commercial plots. The task force also proposed that slum redevelopment should be encouraged under the Public-Private Partnership (PPP) model, allowing for commercial activities within such projects. Gupta noted that to make Delhi's business environment more efficient, transparent and investor-friendly, the task force has been given the responsibility to submit a report on facilitating ease of doing business. The task force will work in coordination with various departments and agencies to review existing processes related to entrepreneurs, businesses, and start-ups. During the meeting, she also discussed the issue of high amalgamation charges for commercial plots and directed the task force to include residential plots under the proposed framework so that a harmonised and integrated policy could be developed. She emphasised the need to effectively implement a single-window approval system to make doing business in Delhi more seamless, efficient and investment-friendly. While discussing the Green Building Policy, she directed that the policy should not be limited to commercial buildings alone but must also include residential plots. She directed the task force to design a broader and more effective policy that incorporates residential areas, ensuring the promotion of sustainable development. The meeting was attended by cabinet minister Manjinder Singh Sirsa, officials from the Municipal Corporation of Delhi, Delhi Development Authority, Delhi Metro Rail Corporation, Registrar of Co-operative Societies, and representatives from the Confederation of Indian Industry (CII).
India Gazette
5 hours ago
- India Gazette
CM Rekha Gupta vows to reform Delhi's real estate: Taskforce report highlights 10 key challenges
New Delhi [India], June 15 (ANI): Delhi Chief Minister Rekha Gupta chaired a high-level meeting on Saturday to strengthen the city's real estate system and make it more transparent, efficient, and development-focused, according to an official statement. During the meeting, the 'Government-Industry Taskforce on Real Estate Report' was formally submitted to the government. This report was jointly prepared by major stakeholders, including the Confederation of Indian Industry (CII), Delhi Development Authority (DDA), Municipal Corporation of Delhi (MCD), Delhi State Industrial and Infrastructure Development Corporation (DSIIDC), Delhi Metro Rail Corporation (DMRC), and real estate consultancy CBRE. The report outlined 10 major challenges currently faced by Delhi's real estate sector, such as unauthorised colonies, housing societies, redevelopment of colonies, and modernization of infrastructure in industrial zones and suggested practical, implementable solutions for each. Chief Minister Rekha Gupta reaffirmed her government's commitment to revamp the sector. She said that the government is committed to moving Delhi towards a structured, transparent, and citizen-friendly real estate model. Cabinet Minister Manjinder Singh Sirsa, senior representatives from MCD, DDA, DMRC, the Registrar of Co-operative Societies (RCS), and CII attended the meeting. Officials said the report will serve as a blueprint for policy reforms and structural changes in the capital's real estate ecosystem. Meanwhile, the Delhi Government will soon unveil a new excise policy aimed at making liquor distribution transparent, accountable, and modern, while prioritising social welfare and protecting vulnerable communities, according to an official statement. As per the statement, the Delhi Government is set to roll out a new Excise Policy soon. The primary objective of this policy is to ensure the availability of quality liquor to the citizens of the capital and to make the sale and distribution system transparent, modern, and accountable. CM Rekha Gupta clearly stated that social security will remain the top priority in the new excise policy. The government will ensure that the policy does not adversely impact sensitive sections of society, as stated in the statement. Further, as per the statement, the Delhi government is committed to ensuring that no aspect of the policy negatively affects sensitive sections of society and that vulnerable communities' safety, health, and peace are not compromised in any way. A high-level committee, chaired by the Chief Secretary of the Delhi Government, is currently working on formulating this policy. The committee is also reviewing the excise policies of several other states to adopt best practices that prioritise effective liquor distribution and social protection, the release said. (ANI)
India Gazette
5 hours ago
- India Gazette
Punjab BJP Yuva Morcha welcomes Delhi CM Rekha Gupta in Fatehgarh Sahib
Fatehgarh Sahib (Punjab) [India], June 15 (ANI): Punjab Bharatiya Janata Party (BJP) Yuva Morcha leaders welcomed Delhi Chief Minister Rekha Gupta in Sirhind of Fatehgarh Sahib district on Sunday. Delhi CM Gupta today expressed confidence that the Haryana government would extend its full cooperation in the development of the national capital. Speaking to mediapersons in Haryana's Karnal, CM Gupta said, '... I believe that Delhi will keep getting full cooperation from the state of Haryana... Some forces are acting like an eclipse on the state of Punjab, which is why neither Punjab is able to develop nor maintain proper coordination with other states.' Delhi Chief Minister Rekha Gupta chaired a high-level meeting on Saturday to strengthen the city's real estate system and make it more transparent, efficient, and development-focused, according to an official statement. During the meeting, the 'Government-Industry Taskforce on Real Estate Report' was formally submitted to the government. This report was jointly prepared by major stakeholders, including the Confederation of Indian Industry (CII), Delhi Development Authority (DDA), Municipal Corporation of Delhi (MCD), Delhi State Industrial and Infrastructure Development Corporation (DSIIDC), Delhi Metro Rail Corporation (DMRC), and real estate consultancy CBRE. The report outlined 10 major challenges currently faced by Delhi's real estate sector, such as unauthorised colonies, housing societies, redevelopment of colonies, and modernisation of infrastructure in industrial zones and suggested practical, implementable solutions for each. Chief Minister Rekha Gupta reaffirmed her government's commitment to revamp the sector. She said that the government is committed to moving Delhi towards a structured, transparent, and citizen-friendly real estate model. Cabinet Minister Manjinder Singh Sirsa and senior representatives from MCD, DDA, DMRC, the Registrar of Co-operative Societies (RCS), and CII attended the meeting. Officials said the report will serve as a blueprint for policy reforms and structural changes in the capital's real estate ecosystem. Meanwhile, the Delhi Government will soon unveil a new excise policy aimed at making liquor distribution transparent, accountable, and modern while prioritising social welfare and protecting vulnerable communities, according to an official statement. As per the statement, the Delhi Government is set to roll out a new Excise Policy soon. The primary objective of this policy is to ensure the availability of quality liquor to the citizens of the capital and to make the sale and distribution system transparent, modern, and accountable. CM Rekha Gupta clearly stated that social security will remain the top priority in the new excise policy. The government will ensure that the policy does not adversely impact sensitive sections of society, as stated in the statement. Further, as per the statement, the Delhi government is committed to ensuring that no aspect of the policy negatively affects sensitive sections of society and that vulnerable communities' safety, health, and peace are not compromised in any way. A high-level committee, chaired by the Chief Secretary of the Delhi Government, is currently working on formulating this policy. The committee is also reviewing the excise policies of several other states to adopt best practices that prioritise effective liquor distribution and social protection, the release said. (ANI)
