Circle rates revised
Img : realtymonks

The circle rates are revised by the district administration in Gurugram and the same are applicable with immediate effect.

In this current fiscal year, the authority has revised circle rate for the third time between April and October. According to the sources, this current revision is actually the continuous process that was started in October, soon after looking into the objections raised by the residents at that time.

According to the rules, the circle rates cannot be revised more than twice within a financial year.

Also, this is the first time that the circle rate is fixed according to the categories in which many localities fall according to the Master Plan of Gurgaon district. Also, the circle rates differ for each category like residential, commercial, industrial and institutional, or other reserved categories.

The Circle rate is also called as the collector rate and this is the lowest price at which a property can be transferred/sale as per the Government records. Also, the Government earns huge revenue from the circle rate in terms of the stamp duty.

A spokesperson of the district administration said that the circle rates are revised after carrying out a survey of immovable properties in the district while considering multiple market rates of areas in multiple categories according to the usage. The spokesperson also said that this is the first time that the administration has revised and fixed circle rates according to the Master Plan categories.

Also, the fixed circle rates for some high value residential and commercial properties are different from the regular ones and this done while considering the special commercial properties and high-value residential properties in some sectors.

Vinay Pratap Singh, Deputy Commissioner also said that the administration had invited objections and heard all the concerns before fixing revised circle rates. These rates will soon be uploaded on the administration’s web portal as they are implemented with immediate effect.

Earlier in October, the circle rates were revised in and around Old Gurugram’s areas that fall under the jurisdiction of municipal limits. The rates remained unchanged in licensed colonies such as DLF, Sushant Lok, South City, Palam Vihar, Huda/HSVP sectors, etc in New Gurgaon.