Circle rate for properties in municipal areas increased – ( something about the timing )

Posted on Sep 30 2018 - 6:05pm by admin

Officials say that the decision to revise rates was taken as there has been a spurt in property transactions in recent times; admin seeks public opinion by October 5

GURUGRAM: THE district administration has proposed to increase the circle rates of municipal areas falling between the Delhi-gurgaon Expressway and the Dwarka Expressway, as well as for those along the Sohna Road by an average of 25%. In some areas, the rates have been nearly doubled.

However, the existing circle rates have not been revised for licensed colonies such as DLF, Sushant Lok, South City, Palam Vihar and sectors falling under the Haryana Shahari Vikas Pradhikaran (hsvp), formerly known as the Huda. The rates also remain unchanged for licensed group-housing societies falling within sectors 1 and 57.

Circle rate, also known as the collector’s rate, is the minimum price at which a property is registered when being transferred. It happens to be a major source of revenue for the government in terms of stamp duty.

The district administration announced the revised rates on Friday, and has sought opinion of the public by October 5 in this regard. The new rates in the city will come into effect from October 10 onwards.

Earlier, the administration had revised the circle rates in April for this financial year. Before that, the rates were further revised in February. The Haryana government had last year decided to revise circle rates twice a year.

As per the government’s notice, rates of land up to two acres depth from National Highway 48 (Delhi-gurgaon Expressway) to Dwarka expressway, and those along the Sohna Road will be hiked by 25 per cent.

The rates have been hiked in and around areas located within the municipal limits of old Gurugram such as Daulatabad, Barf Khana, Chandan Nagar, Jacobpura, Anamika Enclave, Bhim Garh Kheri and others.

In Bhim Garh Kheri and Chandan Nagar the rates have been

doubled from ₹12,000 per square yard (sqyd) to ₹24,000 per sqyd and from ₹18,000 per sqyd to ₹36,000 per sqyd respectively.

In Anamika Enclave located close to Dev Cinema on Mehrauli Road, the circle rate has been revised from ₹20,000 per sqyd to ₹33,000 per sqyd.

In Jacobpura, the rate has been revised from ₹30,000 per sqyd to ₹48,000 per sqyd. In Barf Khana, rate has been revised from ₹26,000 per sqyd to ₹48,000 per sqyd.

District revenue officer DP Yadav said, “The government has revised circle rates, and the new rates will come into effect from October 10. The government has

meanwhile sought suggestions and objections from the people that can be filed by October 5.”

The areas where rates have been hiked are all located along the Delhi-gurgaon Expressway, the Dwarka Expressway, Basai Road, Railway Road, Bajghera Road and others, where property transactions have seen a spurt in recent times, he said.

“The reason behind the revision in rates is the active buying and selling of properties,” said Yadav, adding that the government has decided in 2017 to revise circle rate twice in a particular financial year.

In February, the district administration revised circle

rate that was in force till March 31, 2018. The new rates were enforced from April 24. Once again, a fresh revision has been announced

The hike in circle rates, however, have not been welcomed by all the residents of these areas. Several residents are reportedly unhappy over such a revision.

Ramesh Singh, a resident of Bhim Garh Kheri said, “It is strange that the government has increased rates in those areas where lower middle class people usually settle. These areas are already lacking in adequate civic amenities and high circle rate will no doubt affect the sale and purchase of properties.”

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