The rates in Category A colonies like Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas have been hiked by 200 per cent.
As per the rates approved by Delhi Cabinet today, Rs 6.45 lakh per square metre has been fixed as new circle rate for category A colonies as against existing rate of Rs 2.15 lakh.
This means nobody would be allowed to buy land and immovable properties in these colonies for less than Rs 6.45 lakh per square metre.
The rates in Category B neighbourhoods like Andrews Ganj, Kalkaji, Munirka Vihar and Nehru Enclave have been increased by 50 per cent while for rest of the areas, the hike has been fixed at 22 per cent.
As per the cabinet decision, Rs 2,04,600 per square metre has been fixed for B category colonies as against current rate of Rs 1,36,400 per square metre.
Delhi Revenue Secretary Dharampal said the government decided to hike the circle to cut the black money component in property transactions. He said government expects to generate an additional revenue of Rs 200 crore from hike in circle rates.
In 2011-12, the Delhi Government had collected Rs 2,000 crore in revenues from registration of properties and Rs 1,300 crore has been collected so far in current fiscal. MORE