Circle rates are minimum government-defined prices at which the sale or transfer of a plot, built-up house, apartment, commercial property, or land take place.
Homebuyers planning to capitalize on the pandemic flatness in the market and buy properties in upscale condominiums of the city will have to set aside a higher budget. The Government has approved an increase in circle rates for the current year, which will make registration of properties more expensive in the areas where most new housing in the city is available.