Circle Rate Revision
Thanks to DM office for sharing the by sector circle rates and news papers have given good overview as below.
It is a positive step to remove the extra charge of 15% for flats having lifts, gym, poll etc in group housing.
Believe they have also reduced the rateable value for calculating the stamp duty by up to 15% for commercial properties and up to 20% for non-commercial properties.
In the commercial sector, the rateable value of the ground floor has been reduced by 15%; Rateable value of the lower ground floor, mezzanine and basement has been reduced by 13.33%. In the non-commercial sector (IT, ITES, institutional, offices and others), rateable value on the ground floor will go down by 20%, lower ground, upper ground, mezzanine, basement and first floor will be reduced by 16.66%, second floor by 10% and third floor by 11.11%. Rateable value for floors above the third will remain the same. more
It is a positive step to remove the extra charge of 15% for flats having lifts, gym, poll etc in group housing.
Believe they have also reduced the rateable value for calculating the stamp duty by up to 15% for commercial properties and up to 20% for non-commercial properties.
In the commercial sector, the rateable value of the ground floor has been reduced by 15%; Rateable value of the lower ground floor, mezzanine and basement has been reduced by 13.33%. In the non-commercial sector (IT, ITES, institutional, offices and others), rateable value on the ground floor will go down by 20%, lower ground, upper ground, mezzanine, basement and first floor will be reduced by 16.66%, second floor by 10% and third floor by 11.11%. Rateable value for floors above the third will remain the same. more
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