Buying your dream home in Gurgaon to become cheaper; Circle rates reduced by 15%

Zee Media Bureau

New Delhi: The Haryana government has decided to reduce circle rate or collector rates of immovable property in Gurugram a.k.a Gurgaon by 15 percent.

The circle rates in Gurgaon has been reduced  for the first time in a decade. In the last two financial years –2014-15 and 2015-16, the rates were kept unchanged.

The new rates are available on website www.Gurgaon.Nic.In., Deputy Commissioner, Gurgaon, T L Satyaprakash said.

Circle rates are the minimum authority-defined prices at which sale or transfer of a plot, built-up-house, apartment, commercial property or land takes place. The property can not be registered below this price. Stamp duty and registration charges for a property are also based on this.

This decision was taken in a meeting of district level committee constituted for revising the collector rates.

The circle rates have been reduced on the basis of rates prescribed recently for registration of property, market rate and rates of plots and flats fixed by private builders in Gurgaon district.

There has been decrease in property prices in Gurgaon during the last few months, following which decision has been taken to reduce collector rates in the current financial year.