New Delhi, Oct. 2 -- The Delhi government on Wednesday issued a public notice seeking suggestions on the revision of prevailing circle rates in the Capital. The revenue department said the revision "aims to bring the notified rates in alignment with prevailing market rates," and urged stakeholders, including resident welfare associations (RWAs) and industry bodies, to submit feedback within 15 days. Circle rates are the minimum property prices fixed by the government for the sale or transfer of land, residential, commercial, or industrial properties in a particular area, depending on locality and property type. The last revision in Delhi took place in February 2015. In June this year, the government directed officials to initiate the revision process by forming a committee under the chairmanship of the divisional commissioner. An order issued by the divisional commissioner on October 1 stated: "The government of NCT of Delhi is in the process of revising the circle rates (minimum property value rates) for various categories of properties across Delhi. The revision aims to bring the notified rates in alignment with prevailing market conditions and ensure transparency in property transactions... Interested individuals, RWAs, industry bodies and property owners may submit their suggestions on email id suggestionondelhicirclerates@gmail.com within a period of 15 days." In June, the inconsistencies in the current circle rates were flagged during the meeting of the government-industry task force at Delhi Secretariat. Chief minister Rekha Gupta had then ordered a review, pointing out that the current circle rate structure across Delhi were inconsistent and required reassessment. According to the task force report, seen by HT, circle rates in the Capital are often much higher than in neighbouring Gurugram and Noida, and in some cases even Mumbai. The task force has recommended revision of circle rates for both industrial and commercial land. In premium residential areas, Delhi's circle rates are disproportionately high at Rs.7.74 lakh per square metre (sqm), while the highest residential circle rate in Gurugram is Rs.5.5 lakh/sqm in Gurugram and Rs.1.19 lakh/sqm in Noida. For commercial areas, Delhi's circle rates are Rs.69,820-23.3 lakh/sqm, while in Gurugram the maximum is Rs.2.36 lakh/sqm and Rs.1.19 lakh/sqm in Noida....