Property prices in the national capital will go up as Delhi Government today increased circle rates in various colonies in the range of 15 to 250 per cent. The decision to this effect was taken at a Cabinet meeting chaired by Delhi Chief Minister Mrs. Shiela Dikshit.

Briefing reporters in New Delhi Mrs. Dikshit said that the new rates will come into force only after issuance of notification in this regard. Mrs. Dikshit said that the government is keen to make the property rates more realistic and more close to the market rates in order to eliminate the role of black- money in property transactions.

She said that the circle rate in A category has been increased by 250 per cent and now it will go up to 2 lakh 15 thousand rupees from the existing rate of 86,000 rupees per square meter.

While rates have been hiked by 100 per cent in B, C and D category colonies and the new rates will be 1,36 400 rupees, 1,09200 rupees and 87,200 rupees per square meter respectively.

However, the new rates in E, F , G and H categories colonies will be 47,840 rupees ,38,640 rupees and 31,510 rupees and 15,870 rupees per square meter respectively.

The circle rate of properties is the system in which the government fixes the minimum or maximum rate of the land depending on the category of colonies it falls in and no transaction is allowed below the minimum rate fixed by the government in any area of the city.