Property rates in Gurgaon to drop by 15%
Haryana Government has decided to bring down circle rates in Gurugram by 15%. This is likely to cut property prices in the city.
In an interview with The Hindu, Deputy Commissioner, T.L. Satyaprakash said that collector rates had been slashed 15 % almost across all areas and all types of properties, but the rates had remained unchanged for a few areas.
Circle rates are the minimum value at which the sale or transfer of a plot, built-up house, apartment or a commercial property can take place.
According to a report by News Nation, circle rates in DLF Phase 1 in Gurugram were Rs 77,000 per square feet.
(With inputs from IANS report)