It is expected that the property transactions will become a more costly affair as compared to its current levels in the coming times.

As the Delhi Cabinet on Tuesday decided that it will be raising the currently circle rates in the Capital, the CM of Delhi Shiela Dixit said that the general public will be notified soon with the new rates.

While the move comes into effect with a view to improve fiscal health of the state exchequer, it may be noted here that it is the first time that the circle rates will see a hike after they were first introduced in the Capital.

The circle rates are a phenomenon due to which the government fixes the minimum or maximum rate of the land depending on the category that the piece of land will fall in.

It has been learned from the sources that keeping in mind the current prices of Delhi and NCR region, it made a lot of sense to increase the circle rates. It is expected that the new rates will come into effect after the issue of notification pretty soon.