Circle Rates Revised Again, will be Effective from Today
GURUGRAM: The district administration has revised circle rates for Gurugram, which is likely to come into effect from Thursday. This is the third time that circle rates have been revised this fiscal, after revisions in April and October, though the current revision is basically a continuation of the process begun in October, after addressing objections raised by residents at that time. Normally, rates are not supposed to be revised more than twice a year.
For the first time, the circle rate have been fixed on basis of categories under which areas are earmarked in the Master Plan of Gurgaon district, with different circle rates for different categories, such as residential, commercial, industrial and institutional, or other reserved categories. Circle rate, also known as collector rate, is the minimum price at which a property is transferred in government records. The circle rate is a major source of revenue for the government, in terms of stamp duty.
A spokesperson for the district administration said circle rates were fixed after conducting a special review of immovable properties in the district, keeping in view different market rates of areas under different categories, depending on usage. He added this was probably the first time circle rates were fixed on the basis of Master Plan categories. The district administration has also kept in consideration special commercial properties and high value residential properties in some sectors, and fixed circle rates for these sectors separately.
Deputy commissioner Vinay Pratap Singh said circle rates were decided only after inviting objections and hearing those concerns. The revised circle rates will be uploaded on the administration’s website after midnight, so that they can be implemented from today.
During October’s revision, circle rates were not changed in licensed colonies such as DLF, Sushant Lok, South City, Palam Vihar, Huda/HSVP sectors, etc in New Gurgaon. Rates were revised only in and around areas located in the municipal limits of Old Gurgaon.