New Revised Circle Rates in Gurgaon Primary Residential Areas

New Revised Circle Rates in Gurgaon Primary Residential Areas

The Haryana government has recently revised the new circle rates, which could lead to an increase in the cost of property registrations. The impact on the prices of high-end properties, however, is expected to be minimal. The revised circle rates have gone up by up to 30% in sectors near the Southern Peripheral Road, Golf Course Road, and Dwarka Expressway, which have witnessed a surge in real estate activity. Commercial hubs have also seen a  10% increase in circle rates.

Circle rates, also known as collector’s rates, indicate the minimum value fixed by state governments for the transfer of properties. Builders are not permitted to sell properties below the circle rates. The increase in circle rates is unlikely to affect the pricing of premium properties since their market rates are much higher than the revised rates. For example, the market prices of DLF projects’ The Camellias and Magnolias are Rs 55,000 per sq.ft. and Rs 45,000 per sq.ft., respectively, compared to the revised circle rate of Rs 27,500 per sq.ft.

New Circle Rates Location Wise

DLF Colonies

Location	Earlier Rates	Revised Rates
DLF 1	85,000	95,000
DLF 2	80,000	1,00,000
DLF 3	72,000	93,500
DLF 4	80,000	1,00,000

 

Builder Flats

Location	Earlier Rates	Revised Rates
Aralias	25,000	27,500
Magnolias	25,000	27,500
Camellias	25,000	27,500
Ambience Island	25,000	27,500

 

Group Housing

Location	Earlier Rates	Revised Rates
Sector 47 – 50	7,000	7,700
Sector 58 – 63	5,000	5,500
Sector 76 – 83	6,000	6,600
Sector 47 – 50	5,500	7,150

 

Commercial Area

Location	Earlier Rates	Revised Rates
Galleria	15,000	16,500

 

However, buyers of plotted properties may feel the direct impact of the revision, as they will have to pay a higher stamp duty, which is a percentage of the property value, based on the revised circle rate. The modification in circle rates was challenged by property dealers who stated that in certain sectors, the circle rate for floors had been raised from Rs 5,500 to Rs 6,500 per Sq.Ft. They asserted that the circle rate and stamp duty are too steep for the real estate market, particularly after the downturn during the pandemic. It is worth noting that the circle rates in sectors adjoining the SPR, Golf Course Road, and Dwarka Expressway were also elevated by up to 25% last year, but the rates in commercial sectors remained the same.

According to officials, the circle rates were revised after a special review of immovable properties in the district, with consideration to the categories designated in the master plan. The updated rates have been published on the portal, and property registries will now be processed based on these rates. The modified rates have been implemented on agricultural, residential, and commercial properties, as well as HSVP plots and authorized colonies in different tehsils of the district, with fluctuations ranging from 10% to 30%.