Circle rates to be raise in Delhi
The Delhi government currently is in a state of chaos as the economic slowdown has impacted the market. It was stated by the chief secretary PK Tripathi, on 18th October that the government had much to worry regarding the condition of the state exchequer.
The third quarter of the financial year witnessed an unimpressive 40% of collections. Owning to these factors, a decision to increase the circle rates along with the opening registration of properties in 312 illegal colonies located on private land which are regularised recently has been made in order to meet the expected targets.
However, the VAT and the property registration collection has also been unimpressive and have been among the major concerns. Talking about the plan expenditure, the government is on course according to the finance department with the expenditure standing about 31% of the total layout for the current financial year.
The tracking down of the backlogs alongside providing solutions to meet the targets is in the process.
chief secretary PK Tripathi, Circle rates, Delhi Government, Economic slowdown, Finance department, Government, market, Registration of properties
