In a move that will substantially jack up the prices of property in the Millenium City, the Gurgaon district administration has increased the circle rate by up to 30%. The new rates come into effect from April 3, 2023, the Gurgaon District Administration said on April 3, 2023.
“The rates have been revised by an average 10-30% depending upon the area. These rates have been uploaded on the government and department website and can be accessed with ease,” Gurgaon deputy commissioner Nishant Yadav said.
Circle rate is the state-determined rate below which a property can’t be registered in government records at the time of transfer. Stamp duty and registration charges are calculated based on the circle rate of the property. Circle rates are revised every year by states to keep them closer to the market rate of property.
Areas-wise Gurgaon circle rate in from April 3, 2023
Circle rates have been increased across the various tensils of and sub-tehsils the city in the range of 10% to 30% on the prevalent rates. These include Sohna, Pataudi, Farrukhnagar, Manesar, Wazirabad, Badshahpur, Qadipur and Harsaru.
While circle rates for residential, agricultural and commercial properties in the Gurgaon tehsil have been increased by 20%, it has been hiked by 15-20% in the Badshahpur tehsil. Rates of floors in colonies and licensed colonies of HSVP (Haryana Shahari Vikas Pradhikaran) in the Badshahpur tehsil have also been increased from Rs 6,500 to Rs 7,150 per square foot (psf).
Prices of plots near Palam Vihar have been increased from Rs 15,000 square yard to Rs 18,000 per square yard. In Civil Lines, circle rate has been increased from Rs 52,800 per square yard to Rs 70,000 per square yard.
“The market has slowed down; the interest rates have hardened and the hike of 30% is too much. The burden of the hike will fall on buyers as transactions costs will rise,” Gurgaon Home Developers Association president Narender Yadav said.
Area-wise circle rate in Gurgaon district in 2023
Collectrate for Gurugram Tehsil for year 20223-2024
Collectrate for Farrukh Nagar Tehsil for year 2023-2024
Collectrate for Pataudi Tehsil for year 2023-2024
Collectrate for Sohna Tehsil for year 2023-2024
Collectrate for Manesar Tehsil for year 2022
Collectrate for Kadipur Sub Tehsil for year 203-2024
Collectrate for Hassru Sub Tehsil for year 2023-2024
Collectrate for Wazribad Sub Tehsil for year 2023-2024
Collectrate for Badshahpur Sub Tehsil for year 2023-2024
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An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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