Circle Rate of Gurgaon Property of 2014 to 2015 of Residential and Commercial Property
Circles rates have been rising in tandem with market value of residential and commercial property in Gurgaon. The Haryana Government has taken cognizance of the growth and rise of the actual value of property in Gurgaon and consequently increased the circle rates substantively during the past decade.
Just for the basic knowledge the circle rate is the minimum rate of property which is set by the Haryana government in which one can sale or buy property in Gurgaon or any other parts in Haryana. This is done to safeguard the government as people tend to pay less stamp duty by underestimating their property value. Therefore, government has set a standard circle rates in which to curb the flow of black money into property and also increases Haryana government revenue from the stamp duty of properties.
If government increase the circle rates than the overheads also increase like high cost of registration of property in Gurgaon as buyers would need to pay more on stamp duty charges. Also it has been seen the circle rates has been directly proportionate to property values as the property value increase the stamp duty also rises and vice versa.
Recently Gurgaon circle rate has again been hiked up to 15% to 20% which has been an average hike in stamp duty. So when you buy property in Gurgaon you will have to check the applicable stamp duty in the sector and its effect on the asset value. Also, Circle rates keep on changing every year with property value. So to keep a check on the Gurgaon circle rates and once needs to get the information from the registrar but at Aditya consultant we will update the rates of residential and commercial properties in Gurgaon every year.