With a new circle rate, property rates are set to go up in Gurugram as the district administration has hiked the circle rates in the entire district by up to 30 per cent. "There has been a 10 per cent to 30 per cent hike in rates for residential, agricultural and commercial properties in all the tehsils and sub-tehsils in the district — Sohna, Pataudi, Farrukhnagar, Manesar, Wazirabad, Badshahpur, Kadipur and Harsaru," read the orders issued by Gurugram administration. The new circle rates will be effective from April 1, the order said. Likewise, all the tehsils and subtehsils in the district — Sohna, Pataudi, Farrukhnagar, Manesar, Wazirabad , Badshahpur, Qadipur and Harsaru — saw an increase in circle rates ranging from 10% to 30% on the prevalent rates. Circle rate is the minimum price at which a property is registered with the revenue department when being transferred. The stamp duty levied on such properties is a major revenue for the state government. Market rate is the rate at which a property transaction takes place and its price is determined by market forces, while circle rates are fixed yearly or twice a year by the district administration.
As per the new rates notified by the government, the circle rates of a housing project on Golf Course Road have been increased and now a homebuyer will have to pay higher taxes.
Circle rates have been increased by Rs 2,500 per square foot. The rate of flats in group housing projects in a majority of sectors along Sohna Road had been increased from Rs5,500 per square foot to Rs 7,100 per square foot. The rates of floors in colonies and licensed colonies of HSVP [Haryana Shahari Vikas Pradhikaran] in Badshahpur tehsil have been increased from Rs6,500 per square to Rs 7,150 per square foot.
The rate of plots in Bajghera near Palam Vihar has increased from Rs 15,000 square yard to Rs 18,000 per square yard. In upscale Civil Lines, the rate has been increased from 52,800 per square yard to Rs 70,000 per square yard. "The rates have been revised by an average of 10-30% in the district. These rates have been uploaded on the government and department website and can be accessed easily.”