There was a proposal for decreasing the circle rate of commercial properties by 21.5 per cent.
The newly approved circle rates approved by the district administration will be implemented from August 08. The new rates are categorised in five different categories of the sectors. There was a proposal for decreasing the circle rate of commercial properties by 21.5 per cent, which was later approved. Apart from this, the property market will also get a relief as the surcharge rates of group housing has also been reduced.
Here is the breakup of five categories and their new circle rates.