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The continuous droop in the realty division has constrained the experts to search for better approaches to produce the incomes states win colossal piece of the incomes through stamp obligation and also the enrollment charges that are paid on the buy of the property. https://goo.gl/SMMifi
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Q Menu ▼ COLDUieLL BANKjBR □ 5Ei-1.m . >.«**.-; -t Increase in Curgaon' Circle Rate, Rush if you want to Purchase a Property Increase in Gurgaon’ Circle Rate, Rush if you want to Purchase a Property ©March 3, 2018 & Real Estate # apartments for sale, cheap houses for sale, homes for sale, houses for sale, investment property, new homes for sale, propertyblogs, property purchase, property website blog, Purchase a Property, real estate property blogs,Rush if you want to Purchase a Property £ Srishti Chandola ifc Like 0 The ongoing slump in the realty sector has forced the authorities to look for new ways to generate the revenues- states earn huge part of the revenues through stamp duty as well as the registration charges that are paid on the purchase of the property. Since there have not been many activities in this particular area, the cash-starved civic authorities are somewhat finding it difficult to cope with the pressure that is added. It might be on the account that the Haryana Chief Minister has ordered the Gurgaon administration to raise the circle rates twice in a year. The circle rates are the government fixed rates below which property cannot be registered. Before we further talk about that, it is definitely worth mentioning here that it certainly was a standard practice in Haryana to revise the rates of circle financial year at the average rate of 10-15%. In FY16, however, the prevalent rate of the FY15 was kept as it is, of course, keeping in mind the slowdown. In the financial year 2017, Gurgaon administration proposed a 15% reduction in the rates in an attempt to trigger the activity in the realty sector. Also, it is worth mentioning that the millennium city was worst markets which were hit and left deeply wounded by the slowdown in the market that might be on its way out. Reportedly, in 2017, Gurgaon was the only city amongst the 9 major cities in India that registered a 55% increase in the new or fresh launches. The sale of homes in the city has increased by 27%. Since then things are looking up, early in February the authorities came out with the decision to raise the circle rate of various areas in the range of 3-5%, 2 months before the beginning of the financial year 2018-19. The rates of the property of some areas would actually have touched Rs 10,000 per square foot from the present Rs 10,000 per square foot had the decision come into force. Average property rate in Gurgaon is Rs 6,400 per square foot.
Also, the rates were decreased in some regions while for some as Sushant Lok-1, DLF-1, they were kept unchanged. The revised interest rates across the segment property were to come into effect on February 12 and would come into effect until March 31 this year. However, on February 9, the administration quickly issued the notice that proposed hike has been put on hold. Thus, it may not be April that rates may again be hiked. This may actually be the perfect time for those who have been eyeing the malls in the city with the intent to become the residents to make the move. ^ Is GST Applicable on Homes Booked Before the Introduction of the Act? Leave a Reply Your email address will not be published. Required fields are marked * Comment Subscribe to our newsletter Want to be notified when our article is published? Enter your email address and name below to be the first to know. Send Facebook
Twitter Timeline Tweets by @FavistaRealty Recent Blogs Increase in Gurgaon’ Circle Rate, Rush if you want to Purchase a Property March 3, 2018 Is GST Applicable on Homes Booked Before the Introduction of the Act?February 28, 2018 Why Should a Property Will be Created?February 27, 2018 What Freedom Does a Self-Acquired Property OffersFebruary 23, 2018 What are the Documents Required for Property Registration?February 21,2018 Favista is a Real Estate Advisory Firm based in Gurgaon, India. Favista believes in making every property transaction experience simple and successful. The aim is to bring transparency, professionalism and simplicity to the complex world of real estate. Favista takes pride in keeping the needs and concerns of the customers in highest regards. Favista Real Estate has been founded by IIT + IIM/INSEAD alumni with experience in strategy consulting, internet marketing, venture capital having been part of companies such as McKinsey, Capital One, PartyGaming and SSG Capital. Favista is a full service brokerage helping buyers/investors buy, sell, rent or lease property in India. Favista offers best realty advice for Apartments and Flats for sale in India, land/plots for sale, New Residential & Commercial Projects in India and also assists selling properties at best rates. Favista.com is the only Property Site in India that lists 100% verified properties. Favista currently operates in Gurgaon, Delhi-NCR, Noida, Mumbai and Bangalore.Those intending to sell property in India will also find this website very useful owing to the extensive reach, high brand recall and trustworthiness in the real estate space. In order to make our customers happy and for us to reach our goals, we follow the key tenets of transparency and consistently maintain integrity in everything that we do. With this professional attitude, we are set to become your preferred choice for all real estate services in India. ABOUT About UsOur TeamCareerContact UsTerms Privacy PolicyDisclaimerSite Map QUICK LINKS Post Property FREEEMI CalculatorBlogs Compare Projects
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