Higher relief for real estate buyers if circle price exceeds sale price

The benefit has been raised from 105 per cent to 110 per cent of sale price

The Budget offered relief to buyers and sellers in situations where the consideration value (the declared price for a real estate transaction) is less than the circle rate.

Earlier, if the consideration value was less than the circle value by more than 5 per cent, the difference was taxed in the hands of both the buyer and seller. Now, it will be taxed if the difference exceeds 10 per cent. Circle rate is the minimum rate at which a real estate transaction can be registered. This rate is set by the state government's revenue department.  

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