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Circle rates revised: Gurugram

   Posted on 9th Apr 2018 12:00:14 in Developers

Revised circle rates will be implemented from April 9. The rates have been hiked up to 10 per cent by District Administration. From Noe onwards, all the registry of property will be done as per revised rates. 

On February 12, the rates were revised after four years. With the implementation of new rates city has been divided into different areas. Different rates prevails in every sector or colony. And, for the fist time roads like Golf Course Road, MG Road, Delhi - Gurugram Expressway and Sohna road have been categorized as a separate circle with a unified rate.

Official of district revenue department said the administration has tried to rationalize prices of properties in different areas of the city. “Earlier, some adjoining sectors had huge differences in circle rates. We have tried to bring rates of adjoining areas on a par,” said the official.

In December 2017, Haryana Government decided to revise collector rates twice in a fiscal year so that real estate and land prices in urban and rural areas be in tune with market prices. 

Collector or circle rate is the minimum price at which a property is registered when being transferred, and stamp duty from it is a major source of revenue for the government. Earlier, these rates were revised once a year, but experts said a sustained slowdown in the real estate market has forced the government to fine-tune levies on real estate.

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