Introduction
Gurgaon, also known as the Millennium City, is one of the leading real estate hubs in Delhi, NCR. Knowing the circle rates is a must for buying property in Gurgaon. They help determine stamp duty and registration charges. In this article, Openplot shares the latest updates on circle rates in Gurgaon and how they are calculated.
Table of Contents
- What Is the Circle Rate?
- Latest Update Circle Rates in Gurgaon
- Circle Rates for Multi-Storey Apartments in Gurgaon
- What Is the Process to Check Circle Rates in Gurgaon?
- How to Calculate Property Value as Per Gurgaon Circle Rates?
- Factors Determining Circle Rates in Gurgaon
- What Is the Importance of Circle Rates While Buying a Property?
- How to Contact Gurgaon Municipal Corporation?
Circle rates in Gurgaon are the minimum rates set by the government bodies. Property tax is not registered below these. Circle rates are fixed to ensure transparency and eradicate fraudulent activities during real estate transactions. When buying a property in a particular area, home buyers must check the ongoing cycle rates to know the minimum value of the property.
What Is the Circle Rate?
Also called circulation rate, collector rate, or guide value, it indicates the minimum price at which a property can be sold in a particular area. The local government typically determines this rate, which is used as a reference point for calculating property taxes. Buyers and sellers need to be aware of this rate when negotiating prices.
Knowing the official rate can help prevent overpaying or underselling a property. It also provides transparency in real estate transactions and ensures fair pricing for all parties involved. The state government fixes these rates. It varies from one region to another.
Latest Update Circle Rates in Gurgaon
The list given below will help you to calculate the stamp duty charges payable for property transactions in Gurgaon. Here is the list of Revised Circle Rates for you in Gurgaon:
| Sector | Circle rate per square ft |
|---|---|
| Sector 63 | Rs 3,500 |
| Sector 62 | Rs 3,500 |
| Sector 61 | Rs 3,500 |
| Sector 60 | Rs 3,500 |
| Sector 59 | Rs 3,500 |
| Sector 58 | Rs 3,500 |
| Sector 57 | Rs 5,000 |
| Sector 56 | Rs 5,000 |
| Sector 55 | Rs 5,000 |
| Sector 54 | Rs 5,000 |
| Sector 53 | Rs 5,000 |
| Sector 52 | Rs 5,000 |
| Sector 51 | Rs 5,000 |
| Sector 50 | Rs 5,000 |
| Sector 46 | Rs 5,000 |
| Sector 43 | Rs 5,000 |
| Sector 41 | Rs 5,000 |
| Sector 40 | Rs 5,000 |
| Sector 31 – 32A | Rs 5,000 |
| Sector 30 | Rs 5,000 |
Circle Rates for Multi-Storey Apartments in Gurgaon
Circle rates for multi-story apartments in Gurgaon have steadily increased over the past few years due to the booming real estate market in the area. This trend is expected to continue as demand for residential properties in Gurgaon remains high.
Investors are drawn to Gurgaon for its modern infrastructure and proximity to Delhi, making it a lucrative market for real estate development. The circle rates for multi-story apartments reflect the city’s growing appeal as a desirable location for investors and homebuyers.
| Locality | Circle rate (per sq ft) |
|---|---|
| DLF Colony Old | Rs 6, 000 |
| Housing Board Colony | Rs 3,800 |
| Sectors 104 to 115 | Rs 3,000 |
| Sectors 1, 2, 3, 3A, 4, 5, 6, 7, 12, 12A, 13, 14, 15, 16, 17, 21,22, 22A, 23, 23A, 38, 40 42, 43 | Rs 5,000 |
What Is the Process to Check Circle Rates in Gurgaon?
The circle rate varies from one place to another in the city. This is due to location, infrastructure, and demand in the area. It is important to research and understand the circle rate of a specific location before making any real estate transactions. Home buyers can check the latest circle price in Gurgaon through the following method:
- Visit the Official District Gurugram Website
- On the homepage, under the ‘Department’ section, go to the ‘Revenue’ section
- In the next window, click on the text ‘Collectorate-2023-2024 applicable from 03.04.2023 to register land in District Gurugram’.
- You will see links to collector rates of various tehsils of Gurugram district for 2023–24.
- Click your tehsil link to check the document containing the latest circle rate and collector rate in Gurgaon
How to Calculate Property Value as Per Gurgaon Circle Rates?
In Gurgaon, stamp duty and registration charges can be calculated based on the market value of the property at the time of registration. These charges may vary depending on the registered location and type of property. However, these charges can be calculated using the following formula.
| Value of a property = Circle rate in Rs/sq ft x Built-up area in sq ft |
- First, find out the circle rate of the respective area in Gurgaon from the lists
- After Determining the construction area of your property or the area of the plot
- Check other aspects of the property to understand its true value
- Input the values in the given formula to estimate the property value as per Gurgaon circle rates
Factors Determining Circle Rates in Gurgaon
Circle rates in Gurgaon vary from one region to another. Also known as ready reckoner rates or guideline values. Circle rates in Gurgaon are revised twice yearly to keep the circle rates at par with the parallel market value. Various factors determine the circle rate of a property. These are mentioned below:
- Location: Location plays a major role in determining circle rates. A property in a well-developed area will have higher circle rates than one in a developing area.
- Developed Infrastructure: An area’s infrastructure is very important in calculating circle rates. Good roads, strong connectivity, efficient sewage systems, and access to civic amenities like water and electricity can influence property prices.
- Market value: At times, market value helps determine a property circle rate. If the market value is higher than the circle rate, then both are considered to draw a line between them.
What Is the Importance of Circle Rates While Buying a Property?
Knowing the importance of circle rates is inevitable when buying a property in Gurgaon. As they determine the minimum value at which a property can be registered. Understanding how circle rates are calculated and how they can impact the overall cost of purchasing a property in the area is essential.
Circle rates can also affect the stamp duty and registration charges that must be paid during the property transaction process. Therefore, being well-informed about circle rates can help buyers make informed decisions and avoid unexpected financial implications. Here is why you should be aware of it.
- Property Tax: Determining the circle rate is crucial in calculating property tax. The government often considers the minimum value of the property (based on the circle rate) as a key factor in determining the taxable value of a particular property.
- Property Registration: Property registration and the calculation of stamp duty are mandatory in real estate transactions. In Gurgaon, the government determines the stamp duty using the circle rate. Moreover, the registration charges for the property are calculated using circle rates.
- Legal issues: The court is ready to check the circle rates and resolve the issues if there is a legal dispute related to the property.
How to Contact Gurgaon Municipal Corporation?
Do you want to know every property related issue in Gurgaon? However, you can connect with Gurgaon Municipal Corporation to raise concerns or provide feedback through the following contact details:
- Address: Plot No. C-1, Info. City, Sector 34, Gurugram
- Email id: cmc@mcg.gov.in
- Website: mcg.gov.in
- Contact number: 0124-2370911
Conclusion
Knowing the latest updates on circle prices in Gurgaon will help you make informed decisions and avoid overpaying for the property. It’s also important to consult with a real estate agent or attorney to make sure you’re getting the best deal possible. Understanding circle rates will also give you leverage when negotiating with vendors.
Being knowledgeable about this aspect of the real estate market will help you make better investment choices. By knowing about circle rates, you can protect yourself from potential financial losses. This ensures that you are making a wise investment. Overall, taking the time to research and understand circle rates in Gurgaon will benefit you immensely in your property-buying journey.
| Also read: New Gurgaon Circle Rates: Impact of in on the Real Estate Market New Gurgaon is a fast growing area offering a modern and comfortable lifestyle. The minimum price to buy or sell a residential property in Gurgaon is Rs. 5,000. Commercial property price per square feet is Rs. 4,200 onwards. |
Frequently Asked Questions
Q. What is the guidance rate?
A. The guidance rate, or circle rate is a government-fixed value below which a property cannot be registered.
Q. What is the difference between the actual rate and the circle rate?
A. The circle rate is the indicative price, not the actual price of the property. This particular rate may be lower than the property’s actual market price. The potential buyer must register the property at the specified circle rate or actual rate, whichever is higher.