Gurugram Circle Rates Hiked: Property Registration Costs Rise

GURGAON, India - Dec. 2, 2024 - PRLog -- Starting December 1, property registration in Gurugram will become more expensive as circle rates increase by 10% to 30%. The district administration announced this change to align rates with current market prices. Luxury areas like Golf Course Road will see the highest hike of 30%.

Circle rates, also known as collector rates in Haryana, are the minimum prices set by the government for property transactions. They determine stamp duty and registration charges, making them a key factor in property costs.

Deputy Commissioner Ajay Kumar confirmed that the revised rates will remain in effect until March 31, 2025. The hike applies to residential, agricultural, and commercial properties.

Experts believe the increase might slightly impact short-term sales, as it raises the overall cost of property acquisition. However, Gurugram's real estate market is expected to remain strong due to high demand, infrastructure growth, and investor confidence.

Prime locations like Dwarka Expressway and Southern Peripheral Road are likely to sustain robust demand despite the changes. While the rate hike could pose challenges, Gurugram's thriving real estate fundamentals continue to attract buyers and investors.

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