Gurugram to see 10-30% increase in circle rates from Dec 1, property registration may become expensive – Hindustan Times

Gurugram, also known as Gurgaon, is set to witness a significant increase in circle rates starting from December 1. The Haryana government has announced that the circle rates in Gurugram will see a hike of 10-30%. This means that property registration in the city may become more expensive for buyers.

Circle rates are the minimum rates set by the government for the registration of properties in a particular area. These rates are used to calculate the stamp duty and registration charges during property transactions.

The increase in circle rates in Gurugram is expected to impact property buyers and sellers alike. Buyers will have to shell out more money for property registration, while sellers may find it harder to attract buyers due to the higher rates.

The rise in circle rates is a result of the booming real estate market in Gurugram. The city has seen a surge in demand for residential and commercial properties, which has led to an increase in property prices. The government’s decision to raise circle rates is aimed at capturing the true market value of properties in the city.

Overall, the increase in circle rates in Gurugram is a reflection of the growing demand for property in the city. While it may make property registration more expensive, it also indicates the attractiveness of Gurugram as a real estate investment destination.