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Time of India
31-07-2025
- Business
- Time of India
Gurgaon Property Rates: Get ready to pay higher prices as govt plans up to 145% hike in circle rates
Tired of too many ads? Remove Ads Proposal aims to align circle rates with current market prices New sectors and villages to see higher hikes Tired of too many ads? Remove Ads Previous rate hikes Mixed views from industry and homebuyers Property prices in Gurgaon may rise further as the district administration has proposed a major increase in circle rates, the government-set minimum value for property transactions. Rates could go up by 8-77% in residential areas and as much as 145% for agricultural land, if the Haryana government approves the plan, a TOI report revised rates aim to bring government-assessed property values closer to actual market rates. Currently, there is a wide gap between the two, especially in premium housing societies along Golf Course rates in upscale localities like DLF phases I-V, South City, Suncity, Sushant Lok and Golf Course Road may increase between 10-20%. For flats in high-end condominiums such as DLF Aralias, The Magnolias and The Camellias, the circle rate may rise from Rs 35,750 per sq ft to Rs 39,325 per sq ft — a 10% hike.A realtor operating in the area, Yash Handa, said, 'Circle rates should be increased as per market increase. While group housing societies like Aralias, Magnolias and Camellias range above Rs 55,000, their circle rates are 30% to 60% lower. Even at The Crest luxury apartments, the circle rate of Rs 18,866 per sqft after revision is a lot less than Rs 50,000/sqft market rate.'Properties in new sectors along the Dwarka Expressway may see a 62% hike in circle rates. For example, rates for residential plots could rise from Rs 40,000 to Rs 65,000 per square Gurgaon Gaon, the highest proposed jump for residential plots is 77%, from Rs 25,300 to Rs 45,000 per square land may face the steepest increases. In Bajghera, the proposal suggests a 145% hike from Rs 2 crore to Rs 5 crore per acre. Sirhaul could see a 108% jump, from Rs 2.39 crore to Rs 5 crore per public can file objections to the proposal until July 31. If approved by the state government, the revised rates are expected to be implemented within a rates were last revised in December 2024, when they were increased by 10-30%. In March 2025, the Haryana government had rejected an earlier proposal by the revenue department to hike rates in Gurgaon. At the time, real estate groups had welcomed the decision, saying it was meant to 'boost buyer confidence' and promote 'broader participation' from Kansal, managing director of 360 Realtors, said the proposed hike may not be well-timed. 'Authorities should relook into the issue. The decision to revise circle rates by around 10-77% can result in a further increase in market rates. Already, property prices are soaring. Many parts of Gurgaon have become out of reach for middle-income buyers. An average 2BHK in the city starts at Rs 2-3 crore. Any further hike will lead to spiraling of costs,' said Mishra, an IT professional in Gurgaon, said, 'Continuous rise in property rates will make Gurgaon unaffordable and it will also impact the industry and overall economy of the city.'Mohit Gawri, vice-president (sales) at RISE Infraventures, said aligning circle rates with market values is important for transparency, but added that the proposed hike 'may be too aggressive'.(Based on TOI article)
Time of India
30-07-2025
- Business
- Time of India
Gurgaon's realty market set for a shift, circle rates to go up
Gurgaon: Property prices in the city are set to rise sharply as the district administration has proposed increasing circle rates in the range of 8-77% in residential areas and up to 145% for agricultural land. Circle rate is the minimum cost below which land or property cannot be sold. Unlike market rates, which depend on demand and supply, circle rates are legally binding. The proposed increase in upscale areas like DLF I-V, South City, Suncity, Sushant Lok and Golf Course Road is 10-20%. For flats in DLF Aralias, The Magnolias and Camellias along Golf Course Road – where condominiums are sold upwards of Rs 100 crore – the planned hike is 10%. This translates to Rs 39,325 per sqft, from the existing Rs 35,750/sqft. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon A realtor who deals in properties near Golf Course Road, Yash Handa, said on Wednesday that the circle rates of flats in premium housing societies were still not at par with market rates. "Circle rates should be increased as per market increase. While group housing societies like Aralias, Magnolias and Camellias range above Rs 55,000, their circle rates are 30% to 60% lower. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Surprising Benefits of This Sweet Little Fruit — You'll Want to Eat It Every Day! Learn More Undo Even at The Crest luxury apartments, the circle rate of Rs 18,866 per sqft after revision is a lot less than Rs 50,000/sqft market rate," Handa said. The district administration has proposed steeper hikes – up to 62% -- for properties in new sectors along the Dwarka Expressway. Circle rates of residential plots here could go up from Rs 40,000 per square yard to Rs 65,000 per square yard. The maximum hike for residential plots has been proposed in Gurgaon Gaon, which could see costs go up from Rs 25,300 per square yard to Rs 45,000 per square yard, an increase of 77%. Agricultural land may see the steepest hike. Circle rate in Bajghera has been proposed to go up 145%, from Rs 2 crore per acre to Rs 5 crore per acre, and in Sirhaul, by 108%, from Rs 2.39 crore per acre to Rs 5 crore per acre. The latest proposal, for which people can file objections by July 31, needs to be approved by the state govt. If given the nod, new rates could come into effect in around a month. The district administration's move comes after the Haryana govt in March this year rejected the revenue department's attempt to increase circle rates in Gurgaon. Realtors had said at the time that the govt's decision to keep circle rates stable was supposed to "boost buyer confidence" and promote broader participation" by homebuyers. Circle rates were last increased in Dec 2024 by 10-30%. Ankit Kansal, managing director of 360 Realtors, said increasing rates was not "very prudent or judicious", considering property prices in the city were already high and out of reach for most buyers. "Authorities should relook into the issue. The decision to revise circle rates by around 10-77% can result in a further increase in market rates. Already, property prices are soaring. Many parts of Gurgaon have become out of reach for middle-income buyers. An average 2BHK in the city starts at Rs 2-3 crore. Any further hike will lead to spiraling of costs," said Kansal. Nitin Mishra, an IT professional in the city, echoed a similar view. "Continuous rise in property rates will make Gurgaon unaffordable and it will also impact the industry and overall economy of the city," he said. Mohit Gawri, vice-president (sales) at real estate consultancy RISE Infraventures, said aligning circle rates with market values was a necessary step to ensure transparency, but this sharp hike may be too aggressive.
