Property Circle Rate in Gurgaon 2024

 

Understanding the property circle rate in Gurgaon is crucial for anyone involved in the real estate market, whether you are a buyer, seller, or investor. The circle rate, often referred to as the minimum rate at which a property can be registered, serves as the benchmark for property transactions in a given area. The circle rate in Gurgaon is determined by the state government and varies depending on the location, type of property, and intended use.

What is a Circle Rate?

A circle rate is the minimum price per square foot or square meter at which a property is registered with the government. It is set by the local authorities and serves as the base price for property transactions in the area. This rate is pivotal in calculating the stamp duty and registration charges that a buyer has to pay during the purchase of a property. The circle rate in Gurgaon is regularly updated by the Haryana government to reflect market trends and ensure that property transactions are transparent and fairly taxed.

Factors Influencing Circle Rates in Gurgaon

The property circle rate in Gurgaon is influenced by several factors:

1. Location: Gurgaon is divided into several sectors, each with varying levels of development, infrastructure, and connectivity. Prime locations like DLF Phase 1, Sushant Lok, and Golf Course Road command higher circle rates due to their premium status.

2. Type of Property: Residential, commercial, and industrial properties have different circle rates. For example, residential properties in upscale areas like DLF Phase 5 will have a higher circle rate in Gurgaon compared to those in emerging sectors.

3. Amenities and Infrastructure: The availability of amenities such as schools, hospitals, shopping centers, and public transport significantly impacts the property circle rate in Gurgaon. Areas with better infrastructure tend to have higher circle rates.

4. Market Trends: The real estate market's demand and supply dynamics also play a role in determining circle rates. In a booming market, the circle rate in Gurgaon may be revised upward to align with increasing property values.

Current Property Circle Rates in Gurgaon 2024

As of 2024, the Property Circle Rate in Gurgaon 2024 has seen some revisions to reflect the ongoing developments in the city. The Haryana government has adjusted the rates to ensure they are in line with the market realities, making property transactions more transparent and equitable.

Residential Properties

For residential properties, the Property Circle Rate in Gurgaon 2024 varies significantly across different sectors. For instance:

• DLF Phase 1, 2, 3: The circle rate here ranges from ₹15,000 to ₹20,000 per square yard.
• Sushant Lok 1: The circle rate is around ₹12,000 to ₹18,000 per square yard.
• Golf Course Road: This prime area has a circle rate of approximately ₹20,000 to ₹25,000 per square yard.
• Sector 57: Here, the circle rate is generally around ₹10,000 to ₹15,000 per square yard.

Commercial Properties

Commercial properties generally have higher circle rates due to their potential for income generation. In prime commercial hubs like Cyber City, Udyog Vihar, and MG Road, the circle rate in Gurgaon can range from ₹25,000 to ₹35,000 per square yard.

Industrial Properties

The Property Circle Rate in Gurgaon 2024 for industrial properties is determined by factors such as proximity to highways, availability of utilities, and the overall industrial development in the area. These rates can range from ₹5,000 to ₹15,000 per square yard, depending on the sector and infrastructure.

Impact of Circle Rate on Property Transactions

The property circle rate in Gurgaon plays a crucial role in property transactions. Buyers and sellers must be aware that the actual sale price of a property should not be less than the circle rate. If the transaction price is lower, the property will still be registered at the circle rate, leading to a higher stamp duty and registration charge.

For instance, if you purchase a property in Sector 57 where the Property Circle Rate in Gurgaon 2024 is ₹12,000 per square yard, but you negotiate the deal at ₹10,000 per square yard, the stamp duty will still be calculated on ₹12,000 per square yard, increasing your overall cost.

How to Check the Current Circle Rate in Gurgaon

The Haryana government periodically updates the circle rates to keep pace with the market conditions. To check the current Property Circle Rate in Gurgaon 2024, you can visit the official website of the Haryana Revenue Department. The site provides detailed information on the circle rates for various sectors, types of properties, and intended uses.

Conclusion

The Property Circle Rate in Gurgaon 2024 is an essential aspect of any real estate transaction in the city. Whether you're buying, selling, or investing, understanding the circle rate ensures that your dealings are in compliance with the law and that you're paying the correct amount of stamp duty and registration charges. As Gurgaon continues to evolve as a prime real estate destination, staying updated with the latest circle rates will help you make informed decisions.

Latest Property Circle Rate in Gurgaon 2024

Sector (Gurugram)	Circle Rate per square feet
Sector 30	Rs 5,000 / sq ft
Sector 31	Rs 5,000 / sq ft
Sector 32A	Rs 5,000 / sq ft
Sector 40	Rs 5,000 / sq ft
Sector 43	Rs 5,000 / sq ft
Sector 46	Rs 5,000 / sq ft
Sector 50	Rs 5,000 / sq ft
Sector 51	Rs 5,000 / sq ft
Sector 52	Rs 5,000 / sq ft
Sector 53	Rs 5,000 / sq ft
Sector 54	Rs 5,000 / sq ft
Sector 55	Rs 5,000 / sq ft
Sector 56	Rs 5,000 / sq ft
Sector 57	Rs 5,000 / sq ft
Sector 58	Rs 3,500 / sq ft
Sector 59	Rs 3,500 / sq ft
Sector 60	Rs 3,500 / sq ft
Sector 61	Rs 3,500 / sq ft
Sector 62	Rs 3,500 / sq ft
Sector 63	Rs 3,500 / sq ft

 

Property Circle Rate for multi-storey apartments in Gurgaon 

Locality	Circle Rate per square feet
DLF Colony Old	Rs 6,500 / sq ft
Housing Board Colony	Rs 3,800 / sq ft
Sectors 104 - 115	Rs 3,000 / sq ft
Sector 1, 2, 3, 4, 5, 6, 7, 12, 12A, 13, 14, 15, 16, 17, 21, 22, 22A, 23, 23A, 38, 40, 42, 43	Rs 5,000 / sq ft

 

Property Circle Rate for residential plots in Gurgaon

Locality	Circle Rate per square feet
Authorized/Licensed Colonies in Sectors	Rs 2,830 / sq ft
Palam Vihar	Rs 6,600 / sq ft
DLF Phase ll	Rs 7,000 / sq ft

 

Difference between circle rate and market rate

Property Circle Rate	Property Market Rate
Circle Rates are the minimum legal rate at which a property can be sold to the buyer within a locality/colony, notified by a district collector or the district registrar's office.	The property market rate is decided based on the ongoing current property rates in the neighborhood, determined by factors such as demand for the property, condition of the property, location, and other trends such as recent property sales in the neighborhood.
Circle Rates are revised on a range of fixed regular intervals of several months depending on the district and state in India, not more than twice within a year.	The market rate or value of your property is much more dynamic and can change at any minute of the day, depending upon the numerous factors that drive the real estate market in our country.
The circle rate is determined to have a legal framework for collecting certain stamp duty & registration charges on property transactions within a locality/colony.	Market values of properties are dynamic as they serve the demand & supply trends in the real estate sector within a locality, to encourage a competitive environment & rise in overall industry standards.