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Gurgaon: Revised circle rates

PC Meena, the Deputy Commissioner– Gurgaon District

The meaning of circle rate in real estate:

The term ‘circle rate’ refers to the minimum value of a given piece of land parcel. The area of land for which a particular value is assigned is encircled by the administrative government authorities across different states. Simply put, circle rate is the minimum price at which property can be bought or sold.

 

Significance of circle rates:

The government sets circle rates so that buyers and sellers cannot devalue a property deal and avoid paying the requisite stamp duty.

 

Implication of higher circle rates in real estate market:

As circle rates are directionally proportional to the cost of registration, a high circle rate would imply that the overall cost of registration increases. And so, the stamp duty charges increase.

 

Latest news regarding rate list of land in Gurgaon:

On 31 March 2013, the circle rates in Gurgaon were increased by an average of about 15 percent. These have come into effect from 1 April 2013. This was announced PC Meena, the Deputy Commissioner – Gurgaon District. Now while the circle rate of over two acres of land on the Gurgaon-Sohna Road and Gurgaon-Patudi Road will increase by 10 percent, that of over 2 acre of land adjoining National Highway No. 8 (NH-8) and Dwarka Expressway will increase by 20 percent. It is also noteworthy that circle rates of residential plots in licensed colonies of DLF City Phase I as well as Susnat Lok Phase I have been increased from Rs 65000 per square yard to Rs 70000 per square yard.

 

Given below is the list of revised rates as per government norms:

 

Gurgaon circle rates wef 01 April, 2013

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