State to rake in Rs 15,000 cr with hike in circle rates
Haryana is likely to meet its target of earning Rs 15,000 crore from property registration and stamp duty with the announcement of increased circle rates varying between 10 and 30 per cent across its 22 districts.
Setting a target of a 20 per cent increase in the earning over last financial year’s collection of Rs 12,294 crore, the Revenue Department has already netted Rs 9,302 crore in the last eight months.
“In 2023-24, we had earned Rs 7,808 crore in the first eight months of the financial year. We have already earned Rs 1,400 crore more than last year in the same period. With the increase in circle rates, we are likely to achieve our target in the next four months,” said Additional Chief Secretary and Financial Commissioner (Revenue) Anurag Rastogi.
While Gurugram, Faridabad, Panipat, Sirsa and Rewari are among the few districts that have announced the increased rates, effective from December 1 to March 31, 2025, other districts are still in the process of finalising the rates.
Rs 67 cr flat to cost Rs 87 cr
Gurugram: The circle rates have increased by 10 to 30 per cent, depending on the sectors. The maximum hike has been reported in luxury pockets like Golf Course Road, Suncity. For premium societies like DLF (The Camelias), the surge will be over Rs 20 crore, taking the base price of flats from Rs 67 crore to Rs 87 crore.
Similarly, for societies like Magnolias, the surge would amount to around Rs 9 crore, and flats here will start from Rs 39 crore. In areas along the Sohna road and Dwarka Expressway, premium societies will see a hike between Rs 10 lakh and Rs 50 lakh. In HSVP sectors, the surge will be up to Rs 10 lakh. The 300-sq yard plots, costing Rs 4 crore in old HSVP sectors, will go up to Rs 4.15 crore. The least hike has been reported from a few pockets in Farukhnagar, Badhashpur, Golf Course extension road and Dwarka Expressway.
The city expects a revenue surge of a minimum of 15 per cent and can go as high as 35 per cent, depending on the revision of stamp duty and registration charges. "The hike in several areas is meant to bridge the gap between circle rate and market rate. It will ensure an increase in the government's share in real estate dealings in the Millennium City," said DC Ajay Kumar.
10-20 per cent hike in city
Faridabad: The rates have been hiked between 10 and 20 per cent here. In Sector 14, the most sought-after sector, a 10 per cent increase in circle rate has been effected. A kanal floor will now cost Rs 2.50 crore against Rs 2.25 crore earlier. In the developing sectors — 2, 62, 64, 65, 45 and BPTP — in Greater Faridabad, a kanal plot will cost Rs 1.5 crore instead of Rs 1.30 crore. The charges have been hiked by 15 per cent in these areas.
Flats in group housing and builder societies located in various developing sectors will also be impacted by the increased rates. A three BHK flat will cost Rs 70 lakh to 90 lakh, and registration charges will see an increase of up to Rs 10 lakh per property.
Highest in Model Town
Panipat: A hike of 10-20 per cent has been effected in the collector rates, said Ranvijay Singh Sultaniya, District Revenue Officer (DRO). In Model Town, the residential rates have increased from Rs 45,000 to Rs 49,500 per square metre, and those of commercial property from Rs 1.5 lakh to Rs 1.65 lakh per square metre — the highest in the city.
A 250-square metre plot in Model Town, costing Rs 1.19 crore earlier, will now cost Rs 1.30 crore. Virender Singh, tehsildar, said the sale deeds would be registered according to the new rates from Tuesday.
In some pockets, up 33%
Sirsa: The Revenue Department has increased the rates from 10 to 33 per cent. The highest increase is in residential areas, particularly at Beej Bhandar and Sant Nagar, where the rates are up by 33 per cent. Previously, the rate was Rs 4,500 per square yard, but now it has increased to Rs 6,000. As a result, the registry for a plot of approximately 1,000 square yards, previously registered at Rs 45 lakh, will now cost Rs 60 lakh. This increase means that the stamp duty, calculated at 7 per cent, will rise to Rs 4.2 lakh — up from Rs 3.15 lakh.
In areas like Shahpur Begu, rates have gone up by 28 per cent, meaning buyers will have to pay an additional Rs 42,000 in stamp duty for a 1 marla plot. In commercial areas, Subhash Basti saw the highest increase of 25 per cent. The highest commercial rates are in Rori Bazaar, where the rates have been increased by 10 per cent, bringing the cost to Rs 1.54 lakh per square yard — up from Rs. 1.4 lakh.
15 pc hike in HSVP sector
Rewari: The district has recorded an increase between 10 and 20 per cent in the rates. “Three slabs (10, 15 and 20 per cent) were proposed for the hike. The new rates will lead to increase in revenue up to 20 per cent from stamp duty and registration,” said Shri Niwas, tehsildar. Now, one would have to pay Rs 64.40 lakh instead of Rs 56 lakh for buying a residential plot of 200 sq yard in HSVP Sector 3 as the rates have been hiked by 15 per cent in this area.
(Inputs: Sumedha Sharma, Bijendra Ahlawat, Mukesh Tandon, Anil Kakkar and Ravinder Saini)
