News
Property can be registered below circle rate, rules Delhi High Court


Providing relief to thousands of land owners in Delhi, the High Court on Wednesday allowed registration of properties in the Capital even if valued below the minimum circle rate of the area.
A Bench of chief Justice G Rohini and Justice RS Endlaw relied on provisions of the Indian Stamp Act to revive discretionary powers vested with the state Government to register sale of property below the circle rate. Over a period, the Government had started treating circle rate as the absolute measure of registering properties despite the Stamp Act giving room for manoeuvre.
The court has now provided property owners an opportunity to convince the Collector of Stamps why their asset should be valued below the circle rate of the area. The registrar/sub registrar will now accept such sale/conveyance deeds and forward it to the Collector of Stamps before whom the property owner can appear and explain the reasons for lower valuation of his property. The court recognised that there may be various reasons for low valuation, such as a property being disputed, having unauthorised occupants and poor location etc.
The court made it clear that circle rate circulars issued by the Delhi Government can no longer come in the way of registration of a property. Its directions came on a bunch of PILs filed by Manu Narang, Amit Gupta and Atul Gupta arguing that “no absolute benchmark can be fixed and dictated for determination of the minimum price of any property since prices of property vary from place to place, person to person and due to various other factors.”
-
Guest Column3 weeks ago
Vertex launches its largest project, VIRAAT
-
Guest Column4 weeks ago
Planning to Invest: Consider these 5 alternate assets to put your money
-
Guest Column4 weeks ago
In 2022 PE investments in Indian real estate at $3.4 bn, at par with 2021: Savills
-
Guest Column4 weeks ago
ICRA, CRISIL enhances Commercial Paper limits of Godrej Prop to Rs 1750 cr
-
Guest Column4 weeks ago
Mirae Asset Acquires Grade-A Warehousing Space in India
-
Guest Column4 weeks ago
Propdial in talks to raise Rs 25 Crore
-
Events4 weeks ago
Celebrations at Vegas Mall, Dwarka
-
Guest Column3 weeks ago
TARC Tripundra achieves Rs 350 cr sales