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What is the difference between market rate and circle rate?

What is the difference between market rate and circle rate?

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• Circle rates are notified by the government and are used as reference point for payment of stamp duty on property transaction registrations in Delhi
• Market prices refer to the actual price at which property sale-purchase transactions are transacted between buyers and sellers
• In most cases, circle rates tend to be slightly lower than market prices. However, in some cases it is seen that the circle rates may even be higher than market prices

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