Gurgaon: Property circle rates in the city are set to rise sharply, with the district administration preparing to roll out a revised structure that proposes hikes ranging from 10% to 75% from next week. A uniform 10% rise has been proposed for group housing societies, commercial retail spaces and IT parks. An official said the revision is intended to bring circle rates closer to prevailing market prices, which have climbed across several localities over the past year. The revised rates were proposed after analysing property registrations carried out in different areas during the last 12 months.Explaining the move, the official said the increase is aimed at narrowing the gap between market values and official circle rates, while ensuring greater transparency and more realistic property valuations during registration. The revised rates are expected to come into effect next week after final approvals. The administration said the move will rationalise property valuations and help curb undervaluation in transactions.In Old Gurgaon, Sector 15 is likely to see a 60% increase, with the circle rate rising from Rs 93,500 per square yard to Rs 1.5 lakh per square yard. Sector 5 is expected to record a 45% increase, from Rs 66,360 per square yard to Rs 96,222 per square yard.Private developer colonies are also set for higher circle rates. In Vipul World and Vatika City, the rate is proposed to rise 25%, from Rs 90,000 per square yard to Rs 1.12 lakh. In Tatvam Villa, it is expected to increase 45%, from Rs 88,000 per square yard to Rs 1.3 lakh. Several other colonies are also likely to witness hikes ranging from 25% to 60%. Sectors 38, 41, 48, 49, 33, 47, and 62 to 78 are expected to witness increases of 30% to 45%. DLF phases 1 to 5 and South City 1 and 2 are likely to see a flat 45% rise in circle rates.Developers said the proposed revision reflects current market conditions. Rajan Yadav, director, Roots Developers, said, “The proposed circle rate revision is a timely step toward aligning official valuations with market realities. It will enhance transparency, help streamline transactions, reduce speculative practices and create a more balanced and credible ecosystem for both developers and homebuyers.”Robin Mangla, president, M3M India, said the move is necessary to bring notified values closer to actual market levels. “This calibration will eventually contribute towards fortifying the market with transparency, while also reducing the scope of undervalued registrations. Buyers and investors would do well to factor in these revised rates into their transaction planning. Since the fundamentals driving demand in Gurgaon remain robust, the market is capable of absorbing these adjustments steadily.”Yashank Wason, managing director, Royal Green Realty, said, “The measure will facilitate transactions, reduce speculative activities and create a more reputable and balanced ecosystem for both developers and homebuyers.”
