Following the announcement by the Gurgaon administration on Tuesday regarding the implementation of revised property circle rates in the district, prospective homebuyers will now face increased costs, particularly in upscale areas. Yash Garg, Deputy Commissioner of Gurgaon, stated that the new circle rates, effective from January 1, were adjusted based on revenue data, with efforts made to minimize the impact on affordable housing. Garg noted a marginal increase in circle rates district-wide, emphasizing that this adjustment aimed at rationalization.
The revised circle rates show an escalation for projects located on Golf Course Road, Golf Course Extension Road, Sohna Road, and Dwarka Expressway. The hike varies from 10% to 30%, and in some cases even more. However, on average, officials indicate an increase of about 15% to 20% across the entire district.
The adjustments in circle rates for plots were made based on property demand, market rates, and registrations over the past year. For group housing societies, the collector rate saw an increase of up to 66% in Gurgaon tehsil, 5-10% in Wazirabad tehsil, and up to 38% in Manesar tehsil. No changes were made in the circle rate for group housing societies in Sohna, Pataudi, Farrukhnagar, Badshahpur, Kadipur, and Harsaru.
In multi-storey group housing, independent floors, and private builder areas, circle rates increased by 10-20% in Gurgaon tehsil, 10-45% in Wazirabad tehsil, 10-15% in Badshahpur tehsil, and 40-45% in Kadipur and Harsaru tehsil. No changes were made in Sohna and Pataudi areas.
Certain property prices in relatively new projects on Golf Course roads experienced an increase, while luxury projects like The Magnolias, The Aralias, The Camellias, remained unaffected. Circle rates for plots in upscale colonies, particularly along major roads in the city, were raised from Rs 5,000 to Rs 8,000 per square yard in most cases.
In licensed colonies like Malibu Town, Uppal South End, Vipul World, Vatika City, Uniworld Resorts, Tatvam Villas, the circle rate increased from Rs 50,000 to Rs 55,000 per square yard. Along Dwarka Expressway, circle rates for plots were increased by Rs 4,500 per square yard, while in Sectors 58 to 64, the increase was Rs 6,000 per square yard.
For sectors developed by Haryana Shahari Vikas Pradhikaran (HSVP), collector rates for residential, commercial, and office space saw increases ranging from 5-15%. Agricultural land circle rates rose by 5-40% in various tehsil areas.