In a recent development, Gurugram’s district administration has revised the circle rates in sectors 37C and 37D. However, the rates are kept unchanged for the remaining areas of the city. The officials said that the circle rates in these two sectors are brought down by Rs. 2000 as earlier it was Rs. 5,000 per sq ft and now the circle rate is revised to Rs. 3,700 per sqft.
The revised circle rates will come into effect from 8th August.
Amit Khatri, deputy commissioner, Gurugram said that we aim to revive the real estate market and thus we have not changed the circle rates much. We want to support the housing sector and urban development, and hence there has been no substantial increase in any area other than rationalization.
Circle rate is the minimum cost of a unit at which the property is transferred in government records. The officials said that the rates are kept unchanged in the circle rates for plots in the licensed colonies like Sushant Lok, DLF, South City and Mayfield Garden.
Similarly, the circle rates in Huda sectors are also not changed.
Vijay Yadav, District Revenue officer said that while considering the present situation of the real estate sector we have not increased the circle rates. Also, the administration had put the same in public domain and invited claims and objections from residents. The rates in Sector 37C and 37D are bought down after receiving suggestions from the residents.
According to the Haryana Government, the circle rates are also known as collector rates and they must be revised twice in a financial year.