Circle rates double in old colonies near upcoming Dwarka expressway
The Gurugram administration published the final list of circle rates on its website on Wednesday midnight, after a delay of about two and a half monthsgurgaon Updated: Dec 21, 2018 15:16 IST
The Gurugram district revenue department is hoping to earn about Rs 250 – 300 crore from the revised circle rates that came into effect on Thursday for the remaining three months of the current financial year, 2018-19.
The rates have been almost doubled for some of the old colonies located close to the Dwarka Expressway. Revenue officials have cited the increase in the pace of infrastructure development in these areas as the main reason behind the increase in circle rates. However, the rates of privately developed areas in the city have been kept unchanged.
The administration published the final list of circle rates on its website on Wednesday midnight, after a delay of about two and a half months. The new rates were first proposed on September 28, seeking public opinion. It was likely to come in effect from October 10.
Vijay Yadav, district revenue officer (DRO), said, “We had sought public opinion on the revised circle rates in October. Suggestions and objections, which were sent to the government for final approval, were taken into account. However, the rates that were proposed in September have been kept the same.”
Circle rate (also known as collector rate) is the minimum price at which a property is registered while being transferred. It is a major source of revenue for the government in terms of stamp duty.“government can revise circle rates twice in a financial year. Last time, the rates were revised was back in April 2018. From April to November, the administration earned about Rs 550 crore from the sale of stamp duty. In the next three months of current financial year, we expect to earn Rs 250-300 crore more from stamp duty sale,” said Yadav.
According to revenue officials, sale and purchase of properties in a particular area is the main criteria to assess the circle rate of that area. The rates have almost been doubled for residential properties in Daulatabad, Barf Khana, Chandan Nagar, Jacubpura, Anamika Enclave and Bhim Garh Kheri.
However, for licensed colonies such as the DLF phases, Sushant Lok, South City, Palam Vihar and others in HUDA/HSVP sectors, the circle rates have been kept the same.
In Bhim Garh Kheri and Chandan Nagar, rates have been revised from Rs12,000/sqyd to Rs 24,000/sqyd and Rs 18,000/sqyd to Rs 36,000/sqyd respectively.
In Anamika Enclave located close to Dev Cinema on Mehrauli road, the rate has been revised from ₹20,000/sqyd to Rs 33,000/ sqyd. In Jacubpura, the rate has been been revised from Rs 30,000/ sqyd to Rs 48,000/sqyd. In Barf Khana, the rate has been revised from Rs 26,000/sqyd to Rs 48,000/ sqyd.
Areas located along the Dwarka Expressway, the Delhigurgaon Expressway, Basai Road, Railway Road, Bajghera Road and others, where the sale and purchase of properties have increased, have seen an increase in their circle rates.
Explaining the reason for this increase, BK Saini, senior town planner (STP), said, “A flyover is being constructed on Bajghera railway crossing; Basai Road is to be widened and the Dwarka
Expressway is being developed by the National Highways Authority of India, with an elevated corridor. Further, the Metro has been proposed in the area and other developments are also taking place. All these are reasons behind the increase in circles rates.”
Gaurav Gupta, a property dealer, said, “Areas located between the Delhi-gurgaon Expressway and the Dwarka Expressway have been the main focus of the present government. Infrastructure development in terms of roads, sewer, Metro, elevated corridor and easy connectivity with Delhi is in full swing. This is the main reason why the circle rates have been enhanced in these areas.”
First Published: Dec 21, 2018 15:14 IST