Gurgaon property prices may jump sharply as Haryana govt proposes up to 90% hike in circle rate

The Haryana government has proposed to increase circle rate in Gurgaon by 30-80%. This has surprised many potential buyers and real estate experts. The government has invited objections and suggestions until December 17.

Circle rates are the minimum rates set by the state government for property registration and stamp duty calculation. An increase in circle rates would mean that buyers would have to pay higher stamp duty and registration charges. This would make property in Gurgaon more expensive.

The Haryana government has said that the proposed hike in circle rates is necessary to generate revenue and to curb benami transactions. Benami transactions are those in which the property is purchased in the name of one person but the actual beneficiary is another person.

The proposed hike in circle rates has been met with mixed reactions from potential buyers and real estate experts. Some potential buyers have said that the hike would make it difficult for them to afford property in Gurgaon. Some real estate experts have said that the hike would lead to a slowdown in the real estate market in Gurgaon.

It is still too early to say what impact the proposed hike in circle rates will have on the real estate market in Gurgaon. However, it is clear that the hike would make property in Gurgaon more expensive.