In its bid to bridge the gap between real estate prices and existing sector rates, the Gurgaon district administration has jacked up the circle rates for the second time on Sunday. The revised rate will result in a 5-20% increase in circle rates of properties in Gurgaon from Monday.
The revised rates, according to property experts, might not have much of an impact on the real estate prices but it will make property registration a costly affair. The lowest increase in the circle rate will be in the case of properties falling in areas like Farukh Nagar, Pataudi and Manesar that are outside the already declared residential, commercial and industrial zones. The circle rate will witness a 20% increase in case of colonies falling under urban Gurgaon, the new city and private colonies.
Deputy commissioner R K Kataria said only few patches of land falling under areas where new sectors will come up will see an over 20% hike in the rate declared by the district administration. This has been done after studying and observing the recent trend of property registration in Gurgaon. This will also help us reduce the gap between government fixed circle rate and the actual market rate. This will also reduce the role of black money in this business, the DC added.
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Times Of India
The revised rates, according to property experts, might not have much of an impact on the real estate prices but it will make property registration a costly affair. The lowest increase in the circle rate will be in the case of properties falling in areas like Farukh Nagar, Pataudi and Manesar that are outside the already declared residential, commercial and industrial zones. The circle rate will witness a 20% increase in case of colonies falling under urban Gurgaon, the new city and private colonies.
Deputy commissioner R K Kataria said only few patches of land falling under areas where new sectors will come up will see an over 20% hike in the rate declared by the district administration. This has been done after studying and observing the recent trend of property registration in Gurgaon. This will also help us reduce the gap between government fixed circle rate and the actual market rate. This will also reduce the role of black money in this business, the DC added.
Read more...
Times Of India
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