New circle rates in Gurugram likely to come in effect from Thursday

The circle rates were proposed to be revised slightly for commercial and residential properties in Daulatabad, Barf Khana, Chandan Nagar, Jacubpura, Anamika Enclave and Bhim Garh Kheri.

The Gurugram district administration’s revised circle rates, proposed in September, are likely to come into effect from Thursday.

File photo of MCG office, Gurugram. The district administration Gurugram held a meeting of revenue officials on Wednesday to decide the new circle rates three months before closure of the financial year 2018-19. (HT Photo)

The rates were proposed to be revised slightly for commercial and residential properties in Daulatabad, Barf Khana, Chandan Nagar, Jacubpura, Anamika Enclave and Bhim Garh Kheri.

However, there was no proposed hike in licensed colonies such as DLF, Sushant Lok, South City, Palam Vihar and HUDA/HSVP sectors.

As per the policy of the Haryana government to revise circle rate twice in a financial year in the state, the district administration Gurugram held a meeting of revenue officials on Wednesday to decide the new circle rates three months before closure of the financial year 2018-19.

Circle rate (also known as collector rate) is the minimum price at which a property is registered when being transferred and it is a major source of revenue for the government in terms of stamp duty.

The administration had last revised the circle rate in April and had proposed new circle rates in September, seeking public objections.

Vijay Yadav, district revenue officer, said, “We sent the public objections to circle rate revision to the Haryana government. It has been approved and will come into effect from Thursday. There are minor changes in the rate.” The new rates will be announced on Thursday.

“The sale and purchase of properties in a particular area is the criteria to assess circle rate. It has been witnessed that in residential and commercial areas falling in the Master Plan 2031, the sale and purchase of properties have been very high in the last six months and rates are likely to be increased accordingly,” said Yadav.