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Circle rate hike may increase Gurgaon realty prices by 5% to 20%

The Gurgaon district administration has revised the circle rates which is likely to result in a 5% to 20% increase in circle rates of properties in Gurgaon. The revised rates, according to property experts, might not have much of an impact on the real estate prices but it will make property registration a costly affair. The lowest increase in the circle rate will be in the case of properties falling in areas like Farukh Nagar, Pataudi and Manesar that are outside the already declared residential, commercial and industrial zones. The circle rate will witness a 20% increase in case of colonies falling under urban Gurgaon, the new city and private colonies.