Gurgaon circle rates to be hiked by up to 15%

Property buyers in Millennium City – Gurgaon will have to pay more after April 1 as the city administration has decided to hike circle rates by 10-15% for financial year 2009-2010. Officials said areas like DLF city, Sushant Lok, South City and Palam Vihar could see the sharpest hike. Circle rate is the minimum amount fixed by government at which one can buy a property.

In a recent meeting with the officials of stamp and registry departments, senior district officials took the decision to increase circle rates. Officials also took up the case of agricultural land near Gurgaon that is being converted to residential zones according to Gurgaon-Manesar Urban Complex 2021. The collector rate in many of these areas is very low. Sources said the rate could be increased by two to three fold in villages like Dhanwapur, Dhankot, Basai, Gadolikalan, Gadolikhurd, Kherkidaula, Sihi Sikanderpur, Mewaka, Wazirpur, Daultabad, Dharmpur, Kakraula, Bhangraula and Bajghera.

Senior administrative officials said the hike is aimed at rationalizing the collector rate so that it is somewhat closer to the market price. Currently, circle rate in Gurgaon ranges from Rs 13,000 to Rs 23,000 per sq yard. After the revision, the collector rate could be Rs 1.7 crore per acre against last year’s 1.5 crore in villages like Chakkarpur, Adamapur, Nathupur, Shahpur, Tigra and Sarhaul. ‘‘It’s difficult to finalize the rate as we have to follow procedures and consider the rates at which properties in the same areas are registered. We have made efforts to rationalize the rate,’’ said a senior revenue department officials. Rate in areas like DLF phase is Rs 23,000/sq yard while it is Rs 21,000/sq yard in localities like DLF Ph-III, IV, V and Sushant Lok Ph-I.

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