Collector rates up by 15-20%

Property registration will become a costly affair in Gurgaon with collector or circle rates being increased by 15 to 20% from Friday.

Property registration will become a costly affair in Gurgaon with collector or circle rates being increased by 15 to 20% from Friday.

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In a first, the government has slapped 25% additional charges for registration of built-up properties falling in two-km limit of the national highway and 15% for properties within one kilometre of state highways.

For areas within one kilometre of link roads, 10% extra cost will be levied.

These charges are above the latest hike and the affected colonies are DLF City, Phase 2, South City-1, Sushant Lok-1, sectors 30, 31, 5, 10A, 14, 15, 17, 18 and 40. The clause would also impact some localities falling in Old Gurgaon such as Raj Nagar, Shanti Nagar, Shivaji Nagar among others.

The government had imposed a major hike in October last year when the rates were revised. Some areas like Southcity saw an increase of 133%.

Real estate buyers had to shell out more on stamp duty for colonies like DLF City and Sushant Lok (Phase-1) where circle rates were jacked up by more than 100%. The district committee, under the chairpersonship of deputy commissioner PC Meena, who is also the collector, met on Thursday.

Taking into consideration the prevailing market rates and that of various developers, the committee decided to enhance the circle rates by two to 20% barring a few isolated places.

The new rates will be applicable from April 1 and have been uploaded on the district website www.gurgaon.nic.in.

While finalising the new collector rates, the administration also tried to reduce the multiplicity in rates for adjoining areas to avoid confusion among buyers and decrease cases of stamp duty evasion.