Circle Rates in Delhi Push Demand for Property in NCR

June 20, 2007	(5 votes, average: 3.2 out of 5)  Loading ...
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The Delhi Cabinet’s move of making the circle rates official has annoyed the real estate investors who had planned to invest in Delhi property market.

With this, the prospects of investments in the National Capital Region and other suburbs brighten.

A short fall is likely to happen in Delhi real estate as the flow of ‘unaccounted for’ money will come somewhat.

Add to that, most real estate agents and high end buyers are more comfortable trading in cash, says Pankaj Bhardwaj, a Gurgaon based real estate agent.

However, it will lead to greater transparency with people paying more in white money.  Property prices in NCR are low which may woo buyers.

Faridabad was the first to witness circle rates in 1991-92. Its real estate sector too saw a similar trend to what industry watchers are foreseeing for the Capital.

If Delhi real estate continues to be strong enough, the introduction of circle rates will not make any major difference, say real estate agents in Delhi.  Also, the money demanded in cheque in the city or its neighborhoods is much more than what circle rates talk of.

But, major real estate players in Delhi are likely to be affected the most by circle rates.

News Published Under:   Delhi |

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