India, June 15 -- Chief minister Rekha Gupta on Saturday directed the revision of circle rates of properties across all categories in the city, and formed a committee to study the same, officials aware of the matter said on Saturday.

The revision will likely include both decreasing and increasing of the circle rates in city areas "due to the existing inconsistencies", which were also flagged by the CM during the meeting of the government-industry task force at the Delhi Secretariat, the officials added.

Circle rates are the minimum value assigned to a property for registration purposes by the government, used as a benchmark for property valuation and stamp duty calculation.

During Saturday's meeting, the CM directed an assessment of th...