Real Estate Sector: There has been a boom in the real estate market of Gurugram, so the government wants to cash in on this boom and due to this, the government has decided to increase the circle rate.
Real Estate In Gurugram: If you are thinking of buying a dream home in Gurugram, the tech city of North India, then you are going to be in for a shock. Buying a home can be expensive for you. Because registering property in Gurugram is going to be expensive. The Haryana government has decided to increase the circle rates by 30 per cent in Gurugram district.
Due to the decision of the state government to increase the circle rates, it will become expensive for the home buyers to register the property. Firstly, the budget of the home buyers is already stretched due to the high EMI of the home loan, on top of that the Haryana government is going to increase the circle rate in Gurugram by up to 30%. After the increase in circle rates, home buyers will have to pay higher stamp duty during the registration of the property.
The government sets the circle rate for the sale and transfer of houses to flats or commercial properties. On the basis of circle rate, the government charges stamp duty on the transfer of property. In all the tehsils of the district, including Gurugram, Sohna, Pataudi, Farukhnagar, Badshahpur, Manesar, Wazirabad, the circle rate has been increased by 10 to 30 percent.
Circle rate has been increased from 10 to 30 percent for different areas in Gurugram district. The circle rate has been increased by 30 per cent on Golf Course area, Dwarka Expressway and Southern Ferryferal Road. Whereas in Sector 26 and 26A, the circle rate has been increased by 11 percent.
Circle late rates have been increased by 10 percent in commercial areas. After there is a huge difference between the market rate and the circuit rate, the government decides to increase the circle rate. So the state governments also increase the circle rate to increase their income because this is the biggest source of their income.
In recent times, there has been a boom in the real estate market in Gurugram, so in this boom, the government has started increasing its income by increasing the circle rate.
