Real estate players rejoice as Delhi govt cuts circle rates by 20%

Real estate developers and industry stakeholders welcomed the Aam Aadmi Party-led government's move.

The Delhi government on Friday cut circle rates by 20 per cent, a move that will bring down the exorbitant property prices in the capital city.
 
The new order includes all types of properties across the city. According to sources, it is aimed at boosting property transaction in the market that has been subdued for the past few years. “Moreover, its timing is crucial, given the fact that the elections for the Municipal Corporation of Delhi is due next year and it is currently being governed by the Bharatiya Janata Party,” said a senior industry leader and political activist.