Circle Rate in Gurgaon

The circle rate is essentially the lowest rate a property can be registered at. This rate is decided based on the locality. Hence it can vary between states and cities, as well as within cities.

Circle rates enable the government to regulate the sale of property. It is also the reference point to calculate and collect the appropriate registration fees, which is a prime source of income for the authorities.

The circle rate in Gurgaon for some key sectors is mentioned in the table below.

First, ascertain the property value, which will depend on the type of property. 

Here is a glimpse into this:

• For Builder Floors and Apartments

Carpet area X specific circle rate per square yard

• For Plots

Plot area in square yards X applicable circle rate per square yard

• For Homes Built on Plots of Land

Plot area in square yard X specific circle rate per square yard + carpet area per square yard X minimum construction cost for each square yard

Now that you know the circle rate in Gurgaon, here is an overview of factors that affect the current circle rate in Gurgaon.

• Setting the circle rate means assessing the minimum value of the property and any factors affecting the price of a property will impact its circle rate
  

• Properties located in city centres with close proximity to business hubs and other public landmarks are likely to have a high circle rate
  

• If the property is in a more remote area, the property is likely to have a lower value with a reduced circle rate

• The tier of the city where the property is located and the presence of surrounding amenities also affect the movement of circle rates

Remember that circle rates are changed on a routine basis. However, they are likely to lag behind market rates as market rates tend to be much more dynamic in nature.

Registration fees are ascertained on the basis of the prevailing circle rates applicable in the area where you wish to purchase the said property.

Additionally, you can apply for a home loan on Bajaj Markets and get home loans at lucrative rates. You can also check your home loan eligibility on the website.