Delhi Development Authority [DDA] — rationalise stamp duty or change category of new friends colony

This is a petition which has been pending since long with delhi govt but no action has ever been taken,
Kindly look into this well

Sir,

Its my humble request on behalf of citizens of delhi to you both, to look at government notified circle rates of delhi and rationalise it.

As a matter of fact the circle rates of most of the colonies are higher than the market prices. For e. G. New friend colony's circle rate is more than twice that of actual market rates because if has been termed as a rated colony. The people who have categorised colonies in various grade, when ever they did, perhaps had no access to market reality and information.

A colony like new friends colony can by no means be categorised in a category colony. The circle price for nfc as per government is rs. 7.74 lakhs per sq yard which is same as colonies like vasant vihar, golf link etc.

Besides the fact that irrational circle rates have not only killed all the transaction in such colonies but also government exchequer is suffering because people have indefinitely proposed their purchase and sale of real estate in such areas. (To verify you may get called upon drop in transactions of nfc through govt records).

Sir, i have one such flat in new friends colony. My flat is second floor flat. I want to sell the same for rs. 3.25 cr, but your circle rate is more than 5 cr. Thus, neither can i sell my floor nor can i do anything when i really need money. The buyers arguments against buying one in nfc are:

They will have to pay stamp duty at rs. 5 cr + valuations which is unrealistic.
Then it department will allege that you have paid over and above rs. 3.25 through cash. Which of course is not true.
The govt will demand seller to pay capital gain tax from circle rate i. E. On rs. 5 cr (Approx) where as in reality i may have received only 50% of the circle rate.
Thus, unrealistic circle rates have strangled the whole system and transaction to come to stand still. Sir, if government of delhi thinks price of flat is rs. 5 cr, then i would also want government to pay me that price and acquire it. And if govt (That is being run by such educated people) must do the right thing for its citizens.

Also, the policy makers must ponder on the fact that a flat on second floor with no lift can not command same price as flat on ground floor in the same area. Your current policy doesn't differentiates that a flat facing park will always command premium than one that does not.

Thanking you