Gurugram proposes hike in circle rates, buying house to become more expensive

The circle rates are hiked twice in a year and the administration has sought objections for the revised rates till January 10. Move to hike circle rates is likely to depress the market further.Homebuyers will have to shell more money to buy independent floors in plotted residential colonies, and apartments in group housing societies mostly in private developer colonies along the Golf Course Road, Sohna Road, the Delhi-Gurgaon Expressway and MG Road. This is because the Gurugram administration has proposed to increase the circle rate in these areas. With the increase in the circle rates, the buyers will have to shell out more money in the form of stamp duty to be paid to the government, said experts.