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FAQ: What is the application of full circle rate? - Property Hotline
Posted
June 1, 2016
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102
June 1, 2016
102
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4:23Now PlayingExpert: Anshuman Jagtap, Associate Partner, Hariani & Co.
Q: Does full circle rate apply to sale of property in an area where development isn't permitted since it is located within 100 meters of an ASI designated monument? Is a reduction in circle rate allowed by tax authorities, if yes by what %?
Answer: In a landmark verdict that will benefit thousands of land owners in Delhi, the high court in December 2015 allowed registration of properties even if valued below the minimum circle rate of the area. Provisions were made to revive discretionary powers to register sale of property below the local circle rate.
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