Properties in Gurugram are bracing for a significant change as circle rates for property registration are scheduled to increase by 10-30% starting December 1, 2024. This adjustment could potentially elevate housing costs in an already premium real estate market.
According to district administration officials, these new rates will remain effective until March 31, 2025. The decision emerged from a strategic meeting between Deputy Commissioner Ajay Kumar, sub-divisional officers, and revenue department representatives.
In most areas of Gurugram real estate, property owners can expect a 10-20% increase in circle rates. However, premium locations in Gurgaon real estate, particularly around Golf Course Road, Southern Peripheral Expressway, and Dwarka Expressway, will experience steeper hikes of up to 30%.
DC Kumar emphasized that these adjustments were determined based on property market values in specific zones. The revision process involves recommendations from a district-level committee that conducts thorough market research before proposing changes. While state government approval has been received, detailed specifications regarding exact rate increases are pending.
