No circle rate hike in Gurgaon, govt hopes for realty revival
It's the first time in six years, since the 2009-10 fiscal, that circle rates — the minimum registration price of a property — has not been hiked
Apr 06, 2015
Source : The Times of India

 

GURGAON: The Haryana government has decided not to increase circle rates in Gurgaon for 2015-16, hoping it will help revive activity in the realty market that has been flat for a while. 

It's the first time in six years, since the 2009-10 fiscal, that circle rates — the minimum registration price of a property — has not been hiked. District revenue officer Ajit Singh said, "Circle rates are already quite high in urban areas. It was decided to keep the rate unchanged to invite more homebuyers to the city." 

A committee comprising revenue department officials and headed by the deputy commissioner had recommended to the state government that circle rates in Gurgaon should not be increased. Usually, circle rates appreciate 10-15% every year. 

Realty watchers said this would encourage people to invest in Gurgaon. Developers, too, welcomed the decision. Rajesh K Gouri, vice-president (marketing and sales), Homestead, said, "The real estate market is going through a sluggish phase. If circle rates were to be hiked, it would have further affected activity in this sector. This move will help the market recover. Increasing rates would have resulted in revenue gains but transactions would have come down. It would also result in buyers avoiding registrations." 

The circle rate for agricultural land in some villages have been increased, the revenue officer said.

Latest Realty News

Realty-PE-firms-to-double-investments-this-fiscal
Apr 06, 2015
MUMBAI: Realty-focused PE firms are looking to double their investments this financial year
Due-to-inventory-pile-up-and-price-stagnation,-few-takers-for-new-homes-in-Mumbai-and-Delhi
Apr 06, 2015
MUMBAI: Real estate developers in Mumbai and Delhi are staring at a piling inventory
Credai-plans-to-buy-building-material-in-bulk-in-order-to-cut-costs
Apr 04, 2015
HYDERABAD: The Confederation of Real Estate Developers' Associations of India (Credai) is looking at bulk buying to procure most of the building materials directly from manufacturers
Aam-Aadmi-Party-chief-Arvind-Kejriwal-to-address-rally-against-Land-Bill
Apr 03, 2015
New Delhi: Delhi Chief Minister and Aam Aadmi Party (AAP) Arvind Kejriwal will address a rally against the Land Bill at Jantar Mantar
Land-Bill:-Will-Continue-to-Fight-Against-it,-Says-Jairam-Ramesh
Apr 03, 2015
HYDERABAD: Alleging that the NDA government is anti-farmer, Congress leader and former Union Minister Jairam Ramesh today said his party would fight against the proposed land bill
Land-ordinance-promulgated-again
Apr 03, 2015
New Delhi: The land acquisition ordinance, which the government could not get converted into law in the Rajya Sabha because of stiff opposition, was promulgated again
Real-estate,-gold-worst-performing-asset-classes-in-FY15
Apr 03, 2015
Mumbai: Assets like real estate and gold, long considered defensive bets, floundered in the financial year 2014-15
Developer-to-pay-Rs-25-lakh-for-not-handing-over-flat
Apr 03, 2015
MUMBAI: Over a decade after a Malad resident was cheated of a 620 sq ft flat booked in Marol, the state consumer commission has directed the builder to pay him a compensation of Rs 25.25 lakh
Noida-allows-extra-realty-space-on-Metro-corridors
Apr 03, 2015
NOIDA: Paving the way for extra realty space along the Metro corridors in Noida and Greater Noida, the Uttar Pradesh government has approved an increase in the floor area ratio (FAR) by 0.5
‘Sans-road-map’,-smart-cities-‘figment-of-imagination’
Apr 03, 2015
PANAJI: The central government's plan to create 100 smart cities in the country appears to be nothing more than a figment of imagination

Latest Realty News Of State

Realty Talk's