Gurgaon real estate alert! Now, buyers have to spend more for Gurugram properties - Here is why

Buyers in Gurugram now will have to spend extra money while purchasing properties in upscale condominiums, licensed colonies and builder floors at the Haryana Shahari Vikas Pradhikaran (HSVP) sectors. The district administration has increased the circle rates for 2021-22, which come into force from Thursday.

The rate of an upscale condominium like DLF Aralias, Magnolias and Camellias on Golf course Road has seen the steepest increase which have been increased by 25 per cent from Rs 20,000 to Rs 25,000 per square feet. At the same time, the rate of flats of more than a dozen multi-storey societies at Sohna Road, MG Road and Golf course Road have also been increased from Rs 8,000 to Rs 9,000 per square feet.

In the licensed colonies and independent floors in Haryana Shahari Vikas Pradhikaran (HSVP) sectors, the circle rate was increased by about 20 per cent from Rs 5,500 to Rs 6,500 per square feet. The rate of flats in Group Housing Cooperative Societies of HSVP sectors was hiked from Rs 3,600 to Rs 7,500 per square foot.

However, there is no increase in the rates of plots in the licensed colonies and HSVP sectors.

The flat rate of group housing societies of licensed colonies from Sector-15, 27, 28, 30, 3, 32A, 39, 40, 41, 42, 43, 45, 46, 50, 51, 52, 53, 54, 55, 56 and 57 has been increased from Rs 5,000 to Rs 7,000 per square feet. Similarly, the circle rate of flats in the Licensed Group Housing Society in Sector 58 to 63A has been increased from Rs 3,500 to Rs 5,000 per square feet.

"We have uploaded the proposed circle rates for the 2021-2022 fiscal year on our website. These rates will be implemented from April 8, 2021. Registry happening from Thursday will have to be done as per the new circle rate," said Basti Ram, the district revenue officer (DRO).

Meanwhile, the rates of industrial and IT sectors have not been changed. Apart from this, there has not been any change in the rates of licensed commercial buildings and markets. The rate of residential plots at Chandan Nagar and the Silokhera village in Gurugram has been increased from Rs 18,000 to Rs 42,000 and Saini Khera village from Rs 20,000 to Rs 30,000 per square yard.

"Amid corona the Delhi government reduced circle rates by 20 per cent and in Maharashtra by 4-5 per cent, but the Haryana government increased the maximum registry floor by 20 per cent. The group housing society rates have also been increased. The government and district administration should reconsider these rates," Ramesh Singla, president of Gurugram Home Developers & Plot Holders Association said.