Gurgaon is currently the most vibrant and happening city within the National Capital Region (NCR). Due to its proximity to Delhi and its modern, developed features, Gurgaon has become the top choice for people residing in the NCR. The real estate market in the NCR region, including Gurgaon, is thriving. Investing in property in Gurgaon or any other part of the NCR is considered a wise move for securing a bright and secure future.
According to a recent report, real estate prices in Gurgaon are expected to decrease as the administration contemplates reducing circle rates. The Times of India mentioned that circle rates were left unchanged in the last two financial years, 2014-15 and 2015-16, but this did not significantly boost market sentiment.
Gurgaon Deputy Commissioner TL Satyaprakash has submitted a proposal to the Haryana government to slash circle rates by up to 15% for the sale and purchase of property in Gurgaon. Circle rates represent the minimum defined prices at which the sale or transfer of a plot, built-up house, residential property, commercial property, or land can take place. Below this price, property registration will not occur. Additionally, registration and stamp duty charges for a property depend on these rates.