gurgaon ownership rate: Gurgaon increases circle rate in posh localities by up to 90 percent

The Gurgaon administration has decided to increase the circle rate to 90% in some of the city’s upscale locations, at a time when the real estate industry is still recovering from the setback of COVID19.

Circular rates at DLF Camellias, Magnolias and Aralias, which houses one of the most expensive condominiums in the country, have increased from Rs 20,000 square feet to Rs 25,000 square feet.

While the circle rate at Carlton and Crest of DLF has been increased from Rs 8,000 to Rs 15,000 and Rs 12,000 respectively.

“The restored circle rate will be applicable from April 8. Registration from Thursday will have to be done in accordance with the new circle rate,” the revenue department said in an order.

The circle rate for collective housing in sectors 15, 27, 28, 30, 31, 32A, 39, 40, 41, 42, 43, 45, 46, 50, 51, 52, 53, 54, 55, 56 and 57 increased from Rs 5,000 per square foot to Rs 7,000 per square foot.

For apartments in collective housing companies and plots in approved settlements in sectors 58, 59, 60, 61, 62, 63 and 63A, the rates have been increased to Rs 5,000 per square foot against Rs 3,500 per square foot currently.

Turnover rate for Laburnum, Unitech World Spa, Parsvnath Exotica, The Verandas, Palm Springs, Exotica, Park Place, Belaire, Vipul Belmonte, Central Park and Princeton increased from Rs 8,000 per square foot to Rs 9,000 per square foot .

While circle rates for builder floors in licensed settlements have been increased from Rs 5,500 per square foot to Rs 6,500 per square foot, which is likely to impact the price of freestanding floors in the city.