Circle rates in Gurugram will rise by 10-30% from December 1, 2024, following a decision made in a meeting led by Deputy Commissioner Ajay Kumar, with sub-divisional officers and revenue department officials on Friday.
The hike in circle rates, which determines the value for property registration, could drive up housing costs in Gurugram, one of India’s priciest real estate markets. The revised rates will be effective until at least March 31, 2025, according to district administration officials.
Most areas in the city will see circle rates increase by 10-20%. However, high-demand locations, such as those near Golf Course Road, the Southern Peripheral Expressway, and Dwarka Expressway, will experience increases of up to 30%.
Ajay Kumar explained that the adjustments were based on the market value of properties in specific areas. “Certain areas in the district have a significantly higher market value, which is why we have decided on a rate increase of up to 30% in those locations,” he said.
Kumar further clarified that changes in the circle rates are recommended by a district-level committee after conducting market research. These rates are finalized and implemented after receiving approval from the state government.
While the government has approved the hike, officials are still waiting for the detailed order outlining the exact rate increases. Realtors predict that property prices in Gurugram will continue to rise as a result.
Despite the already high property prices, Gurugram’s real estate market remains one of the top performers in the NCR and across the country. However, potential homebuyers express concern that with the ongoing price hikes, owning property in Gurugram will become increasingly unaffordable for the middle class.
“Property prices are already in the crores and keep rising. An increase in circle rates will only push prices higher, making the dream of owning a home in Gurugram unreachable for the average person,” said a local resident who is currently searching for a new home.
Download 2024-2025 New Circle Rates List Tehsil Wise Below:-
