Suncity, situated in the upscale Sector-54 of Gurgaon, is a well-established and tranquil neighbourhood known for its lush greenery and excellent connectivity. Covering 140 acre, it has evolved into a sought-after residential destination near Delhi, featuring high-end residential projects that enhance its desirability. With essential amenities, strong infrastructure, and seamless connectivity, Suncity attracts both property investors and home seekers. This piece delves into the current circle rates in Suncity, Gurgaon, providing valuable insights for those interested in the real estate market in this thriving locality.
What are circle rates?
The circle rate, also referred to as collector rate, ready reckoner rates or guidance value, represents the minimum value mandated for property registration in government records. Recognising the diverse nature of cities, where the value of one area may significantly differ from another, collector rates are locality-specific, varying across different regions within a city. This ensures that property transactions are recorded at a baseline value that reflects the unique characteristics and market dynamics of each specific locality. In Gurgaon, circle rates are fixed and periodically revised by the Haryana government.
See also: Gurgaon circle rates
Circle rates in Suncity, Gurgaon
The Gurgaon District Administration decided not to change the circle rates further in 2023. The circle rate in Gurgaon varies between localities based on:
- Stamp duty and registration value
- Market value
- Available infrastructure and amenities
- Type of property, such as plots, apartments, and independent house
The circle rate in Suncity, Gurgaon, was last revised in 2022, increasing it from Rs 1,500 per square feet to Rs 2,500 per square feet (sq ft).
Real estate trends in Suncity, Gurgaon
Suncity is an upscale neighbourhood in Gurgaon. Here are the key real estate trends for this locality:
Suncity, Gurgaon: Connectivity
Suncity in Gurgaon boasts excellent connectivity, primarily through Golf Course Road, which seamlessly links it to other key areas in the city. The rapid metro rail network further enhances accessibility, with the Sector-54 Chowk station strategically serving this locality. This metro route not only connects Suncity to Sikanderpur Metro Station on the Yellow Line but also provides convenient access to the prominent job hub of Cyber City. Additionally, reaching the IGI Airport is effortlessly facilitated by a quick drive through various underpasses beneath the Golf Course Road.
Suncity, Gurgaon: Infrastructure and amenities
Suncity in Gurgaon stands out for providing unparalleled amenities to its residents, contributing to a luxurious lifestyle. Residents enjoy easy access to shopping centres, play areas, clubhouses, ample parking spaces, dispensaries, reliable water storage and more. Widely regarded as a highly desirable residential area, its proximity to esteemed schools like Shiv Nadar School, Lancers International School and Suncity School Gurgaon further enhances its appeal. Additionally, with Suncity Market just 0.6 km away, and key business hubs like American Express Campus, Golf View Corporate Tower and One Horizon Centre in close vicinity, the locality ensures convenience. Residents also benefit from nearby healthcare facilities, such as the Escallent Institute of Lasers and Aesthetic Medicine (EILAM) and NationWide Indira Nagar Clinic.
Suncity, Gurgaon: Residential properties
Suncity stands as a self-sufficient community with a diverse mix of horizontal and vertical residential complexes. The housing options in Suncity encompass multi-storey apartments, builder floors, CGHS (Cooperative Group Housing Societies) and plotted developments. Notable residential buildings include Salcon The Verandas, Suncity Heights, Orchid Garden, Krishna CGHS, and East West Apartments, among others. Catering to various budget ranges, Suncity offers independent floors and villas that seamlessly blend comfort with style. The residential units, including 2BHK, 3BHK and 4BHK independent floors, as well as 2BHK, 4BHK, 5BHK, 6BHK, 9BHK, 18BHK and 19BHK villas, are designed to meet diverse customer preferences and needs.
Suncity, Gurgaon: Commercial properties
Suncity and its vicinity feature several prominent commercial office spaces, such as Vatika Towers, Ocus Technopolis, Ninex Time Centre, Paras Twin Tower, Vipul Plaza, and Suncity Business Tower. Additionally, the locality is strategically positioned near key corporate centres along Golf Course Road, housing offices of major companies. Notable corporate hubs in proximity to Suncity include Golf View Corporate Tower, One Horizon Centre, and the American Express Campus. This advantageous location ensures that the residents of Suncity have convenient access to numerous employment opportunities within a 5-10 km radius.
Suncity, Gurgaon: Price trends
There are several residential properties in Suncity available for buying and renting. The average price of houses in the locality is Rs 16,850 per sq ft, while the average rent is Rs 58,371.
Why invest in Suncity, Gurgaon?
Investing in Suncity, Gurgaon, is a strategic choice driven by its exceptional social and physical infrastructure. The locality boasts seamless connectivity through major road networks like the Gurgaon-Faridabad Road and Golf Course Road. Suncity is enriched by the presence of Suncity Park, a scenic green space, contributing to the overall appeal of the area. Convenient transit options by rail, road, and air, coupled with easy access to essential amenities, such as colleges, schools, markets, and hospitals, enhance the desirability of this location. Renowned for luxurious properties, Suncity ensures a high-quality living environment with clean air and water quality, surrounded by greenery. Proximity to key hubs like Iffco Chowk and Huda City Centre, along with the presence of upscale hotels, eateries, and retail malls, further establishes Suncity Gurgaon as a sought-after destination for both residents and investors.
FAQs
How is property value determined based on the circle rate?
Property value is calculated by multiplying the circle rate in the area by the property's built-up area in square metres.
What happens if the market value is lower than the circle rate?
If the market value is lower than the circle rate, the property must be registered based on the higher value, which is the circle rate.
What is the stamp duty value?
Stamp duty is calculated by considering various factors, including market value, transaction value, or circle rates set by the local government.
What factors influence the circle rate of an area?
Circle rates depend on various factors, including the location of your sector, infrastructure, amenities provided, and economic factors.
Is it mandatory to pay house tax in Gurgaon?
Yes, property tax payment is compulsory in Gurgaon for all property owners.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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