Circle Rate of Colonies 2014- 2015 in gurgaon

The continuous rise in the market value of residential and commercial properties in Gurgaon has also seen a steady rise in the circle rates of Gurgaon properties. The state Government has taken note of the rise in the market value of properties in Gurgaon and accordingly increased the circle rates substantially during the past years. Just for the working knowledge the circle rate is the minimum value of property under a certain area or circles within the city set by the government. The Government divides the city in circles and set a minimum price per sq meter of land for property deals. Also the increase in circle rates is directly related to the applicable stamp duty on the property which again impacts the property prices. This is done to prevent the undervaluation of property deals to pay less stamp duty. So by fixing circle rates the Government reduces the circulation of black money into property and also increases Government’s income from the stamp duty of properties.

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