Gurugram: Real estate prices in the city will rise sharply because the district administration has proposed to increase increasing circular figures in the reach of 8-77% in residential areas and up to 145% for agricultural land.
Circle rate is the minimum costs under which land or real estate cannot be sold. In contrast to market rates, which depend on the demand and supply, the circle hunts are legally binding.
The proposed increase in luxury areas such as DLF IV, South City, Suncity, Sushant Lok and Golf Course Road is 10-20%. For flats in DLF Aralias, the Magnolias and Camellias along the golf course – where apartments are sold from RS 100 Crore – the planned walk is 10%. This translates into RS 39,325 per SQFT, of the existing RS 35,750/SQFT.
A broker who deals with properties in the vicinity of Golf Course Road, Yash Handa, said on Wednesday that the Circle rates of Flats in Premium Housing Associations were still not on the same way with the market rates.
“The circular percentages must be increased according to the market increase. While group home construction associations such as Aralias, Magnolias and Camelias vary above RS 55,000, their circle percentages are 30% to 60% lower. Even at the Crest Luxury Apartments, the circle percentage of RS 18.86/SQFT, said the Revis after the REVFT -said the RSQFT -Market.
The district administration has proposed steeper increases – up to 62% – for property in new sectors along the Dwarka Expressway. Circle percentages of residential plots can rise here from RS 40,000 per square meter to RS 65,000 per square meter.
The maximum increase for housing plots has been proposed in Gurgaon Gaon, which could see that the costs of RS 25,300 per square meter to RS 45,000 per square meter, an increase of 77%.
Agricultural country can see the steepest walk. Circle Rate in Bajghera has been proposed to rise 145%, from RS 2 crore per hectare to RS 5 crore per hectare, and in Sirhaul, with 108%, from RS 2.39 crore per hectare to RS 5 crore per hectare. The last proposal, for which people can submit objections by 31 July, must be approved by the State GOVT. If they get the nod, new rates can come into effect in about a month.
The movement of the district administration comes after the Haryana GOVT in March of this year rejected the attempt of the turnover department to raise the circle races in Gurgaon. Brokers had said at the time that the government’s decision to keep the circle hunts stable, stimulating buyer confidence and promoting a broader participation by home buyers.
The circular percentages were last raised by 10-30%in December 2024.
Ankit Kansal, general manager of 360 Realtors, said that the rising rates were not “very careful or judicial”, since the immovable prices in the city were already high and out of reach for most buyers.
“Authorities must look at the issue again. The decision to revise the Cirkelt rates by around 10-77% can result in a further increase in market rates. Real estate prices are already rising. Many parts of Gurgaon have become out of reach for buyers with an average income. An average 2bhk will start at RS 2-3,” said “said,” said, “said,” said Cost of Cost, “said” Kosting of Cost, “said” Kosting in the city, “said” Kosting in the city, “said” Kosting, “said” Kosting, “” Kosting in the city, “” said 2-3. “
Nitin Mishra, an IT professional in the city, repeated a similar image. “Continuous rise in real estate rates will make Gurgaon priceless and it will also affect the industry and the overall economy of the city,” he said.
Mohit Gawri, vice-president (sales) at real estate advisory agency Rise Infrasendentures, said that the coordination of circular speeds with market values was a necessary step to guarantee transparency, but this sharp rise can be too aggressive.
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