Circle rates have been revised and increased by about 15% in Gurgaon and the same will come into effect from Monday. Earlier, the Gurugram district administration had revised rates in February and these were in force until March 31, 2018.
Collector or circle rate is the minimum price at which a property is registered when being transferred and it is a major source of revenue for the government in terms of stamp duty. The property registration is set to get costlier as the new circle rates come into effect from April 9.
DLF 1 and Sushant Lok 1 saw an increase in circle rates in residential category from Rs. 65,000/sqyd. to Rs. 77,000/sqyd. As far as the commercial category is concerned, the circle rates for these areas have witnessed a hike from Rs. 1,50,000/sqyd. to Rs. 1,65,000/sqyd.
For DLF 2, 4 and South City-1, the circle rates in residential category have increased from Rs. 65,000/sqyd. to Rs. 72,000/sqyd. The circle rates in commercial category for these areas have increased Rs. 1,50,000/sqyd. to Rs. 1,65,000/sqyd.
For DLF 3 and NMC, the circle rates in residential category have increased from Rs. 56,000/sqyd. to Rs. 66,000/sqyd. In commercial category, the circle rates have witnessed a hike from Rs. 1,50,000/sqyd. to Rs. 1,65,000/sqyd.
Garden Estate saw an increase in circle rates in residential category from Rs. 51,000/sqyd. to Rs. 60,000/sqyd. In commercial category, the circle rates have witnessed a hike from Rs. 1,50,000/sqyd. to Rs. 1,65,000/sqyd.
Palam Vihar/Uniworld Resorts witnessed a hike in circle rates in residential category from Rs. 42,500/sqyd. to Rs. 50,000/sqyd. In commercial category, the circle rates have increased from Rs. 1,40,000/sqyd. to Rs. 1,20,000/sqyd.