News and Updates on Affordable Housing Units in Gurgaon

New Circle Rates in Gurgaon Applicable From Next Financial Year 2018

Times of India:

New Circle Rates in Gurgaon Applicable From Next Financial Year 2018

Are you looking for New Circle Rates in Gurgaon Applicable From Next Financial Year 2018? Find New circle rates Gurgaon for Every sector or colony of Gurugram on official-website of the district administration soon

New circle rates Gurgaon for Every sector or colony of Gurugram

GURGAON: The property prices in the Gurugram are set for yet another correction as the district administration has proposed a revision of circle-rates-of-properties across the segments, according to official-sources.

The-new-circle-rates-Gurgaon is expected to be uploaded on the official-website of the district administration soon. “For the first time, the administration will seek suggestions-and-objections from residents over the proposed rates.”

People can share their suggestions/objections through email or in person till December 27.

The proposal, according to official sources, has divided the city into different-areas. Every sector or colony of Gurugram will have different rate, and for the first time roads like MG-Road, Golf-Course-Road, Delhi-Gurgaon-expressway and Sohna-Road have been categorized as a separate-area and will have a unified-price.

The areas like DLF, Sushant-Lok, Cyber-Hub, Ambience Islands and adjoining areas are likely to witness an increase in circle rates, while some of the areas in Old Gurgaon and a few in Huda-sectors may witness decrease in property prices.

"For the first-time, the circle-rates will be applicable for as many as 15colonies which have been regularized and brought under the Municipal Corporation Gurgaon, and now properties in these areas can be registered," said district-revenue-officer -Hari Om Attri. He further said the administration has tried to rationalize the prices-of-properties in different areas of the city.

"Earlier, some of the two adjoining #sectors had huge variation in circle-rates. This time we tried to bring circle rates of two adjoining areas at par with each other," said Attri.

In last two consecutive years, circle rates in Gurgaon were reduced by 5-10%. In 2014-15 and 2015-16, the circle rates of properties-in-Gurgaon had remained unchanged owing to slump in the real-estate-sector. The new circle-rate will be applicable from next-fiscal-year 2018.

The official said the administration hopes to increase-the-revenue collection from stamp-duty after correction in circle rate as more people will purchase properties.

The circle rate is the minimum-value at which sale or transfer of plots, built-up houses, apartments or commercial-properties take place.

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