Haryana Government has decided to bring down circle rates in Gurugram by 15%. This is likely to cut property prices in the city.
In an interview with The Hindu, Deputy Commissioner, T.L. Satyaprakash said that collector rates had been slashed 15 % almost across all areas and all types of properties, but the rates had remained unchanged for a few areas.
Circle rates are the minimum value at which the sale or transfer of a plot, built-up house, apartment or a commercial property can take place.
According to a report by News Nation, circle rates in DLF Phase 1 in Gurugram were Rs 77,000 per square feet.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
India seen to grow faster than emerging market peers
Consolidation in Indian banking sector risky: Moody's