Circle rates may go up, hike in Manesar property prices likely

GURUGRAM: Buying a property in Manesar may soon get costlier as the district administration has proposed a hike in the circle rates in the town that was recently brought under a new corporation.

Apart from Manesar, a hike in the circle rates in Gurgaon’s Wazirabad tehsil has also been proposed — a move that may push up apartment prices in upscale condominiums like Emaar MGF, Magnolias, Laburnum and The Verandas.

The district administration has invited suggestions and objections till January 15, after which the new circle rates for the 2021-22 fiscal will be notified for implementation with effect from April 1, officials have said. The circle rate or collector’s rate is the minimum value that state governments have set for the sale or transfer of a plot, built-up house, apartment or commercial property.

Deputy commissioner Yash Garg said on Wednesday that while no changes have been proposed in the circle rates of Gurgaon tehsil, Sohna, and the sub-tehsils of Badshapur, Kadipur and Harsaru, a hike has been proposed in the circle rate for various group housing cooperative societies in Manesar tehsil.

In Manesar tehsil, the circle rate for group housing cooperative societies in sectors 77,78, 80, 81A, 82A, 83, M1 (D), M1(B) and 84, metro depot and ISBT may increase to Rs 5,000 per sq feet from the existing Rs 4,500 per sq feet if the proposal is accepted.

Moreover, the circle rate for independent floors of private developers in sectors 79, 79 (A), 79 (B), 85, 86, 87 (part), M1, M1(A) and M1(C) may go up to Rs 5,000 per sq feet from the existing Rs 4,400 per sq feet. The circle rate proposed for Ansal industrial and residential areas in Manesar is Rs 12,000 per sq ft, the DC said.

Similarly, for Wazirabad tehsil, there has been a proposal to fix a circle rate of Rs 9,000 per sq ft for Emaar MGF, Rs 7,000 per sq ft for Icon and Rs 9,000 per sq ft for the Crest.

The upscale condominiums — Aralias, Magnolias and Camellias — are also likely to get costlier in the next fiscal as the district administration has proposed increasing the circle rate from the existing Rs 20,000 per sq feet to Rs 23,000 per sq feet. However, the final circle rates will be decided on the basis of feedback that the district administration receives from the residents and other stakeholders, he added.