Colonies Close To Dwarka Expressway Experience Double Circle Rates

The circle rates have been almost doubled for old colonies in Gurugram, especially those located close to the Dwarka Expressway. The rapid construction of Dwarka Expressway has accelerated the development of other infrastructures surrounding the Expressway and Revenue Officials have cited the same reason for the increase in circle rates of Property in Dwarka Expressway.

Collector rate, most commonly known as circle rate is the minimum price at which property gets registered while being transferred. The government can revise circle rates twice in a financial year, which is one of the major sources of revenue for the government concerning stamp duty. The circle rates were last revised in April 2018 in which the administration earned about ₹ 550 crores from the sale of stamp duty from April to November. The government is expecting to earn ₹ 250-300 crore more from stamp duty sales in the next three months of the current financial year.

The government intended to seek suggestions and feedback from the public, and hence the new rates of Property in Gurugram were first proposed on September 28. The suggestions and opinions of the public were forwarded to the government for perusal. Following are the notable changes in circle rates of certain areas close to Dwarka Expressway

Dualatabad, Delhi Gurgaon Expressway, Basai Road, Bajghera Road, and Railway Road are some more areas affected by the increase in circle rates. Also, check the updated circle rates of the following residential areas in Gurugram for the Financial Year 2018-19

As of now, the sales and purchase of properties is the only factor considered while amending the circle rates in the region. The place has started witnessing positive growth concerning sales and investment of the properties. Apart from the construction of Dwarka Expressway and the excellent connectivity, it will bring in the future, there are other significant developments going side by side including flyover construction on Bajghera railway crossing, widening of Basai Road, construction of evolved corridor on Basai Road and proposed metro stations.