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Gurgaon News  | Gurgaon Blogs  |  Gurgaon Article

Steady Increase in Circle Rates, Gurgaon Real Estate on the Rise
21/04/2014
The circle rates for the property in Gurgaon have been on the agenda of the administration for quite some time. Some have been hoping for an increase in the circle rates while some can do well without an increase. The people looking for an increase are definitely the real estate experts while the people who are hoping otherwise are the buyers.

So, recently, the district administration came out with a rise in circle rates for the property in Gurgaon. The rates have been increased by about 10 percent at most of the places, so for buyers the property price can be a little more expensive than what they were before this amendment made by the administration. However, the real estate experts are not very happy with this increase. There is a rise in circle rates, however according to the experts it is not significant enough to cause any substantial difference.

The experts are of the opinion that even after the increase, the circle rates are far less than the actual market rates of property at this given point in time.

The rates of residential apartments like Unitech World Spa and Ambience Island have been increased from the previous rates of Rs 4,500 per square feet to Rs 7,000 per square feet, which is quite a hike if seen from a neutral perspective. However, the reason why the experts are not happy with the hike is because the market price of these apartments ranges from Rs 10,000 per square feet to Rs 15,000 per square feet, which is indeed quite high from the circle rates even after the rise.

However, some experts are seeing the brighter side of things, and are very optimistic about the future of real estate in Gurgaon.

Narinder Juneja, owner of Gurgaonproperties.net, a property portal is pretty enthusiastic, and is certain that the steady increase in circle rates, and the lessening of difference in circle rates and market rates is a welcome sign for good things to come in the near future. He also sees the role of rise in stocks on the rise in real estate rates.

The experts are hoping for a rise of 20 percent in the rates, and are subsequently hoping that more customers choose Gurgaon for buying their homes based on the improvement in infrastructure, transport and commercialization it has gone through in past decade.

So, most of the experts believe that the things are turning out very well for the Gurgaon real estate, and the sector is hoping for a significant high in the coming years.

Source :www.gurgaonproperties.net






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