July 1, 2009 6:54:09 am
The Gurgaon administration has increased collector rates (or circle rates) for the registration of property from 7 to 12 per cent.
Deputy Commissioner,Gurgaon,Rajender Kataria said: The average hike is between 2 to 8 per cent. However,in a few cases the hike has been over 12 per cent,depending on the location and trends in the previous years. The hike was supposed to be implemented on April 1 this year,but the process got delayed due to the Lok Sabha elections.
Collector rates are the minimum floor rate one needs to pay in order to register a property. When asked why the administration decided to hike rates at a time of economic slowdown,the DC said: The slowdown has not had a lot of effect on transactions pertaining to property,so it really will not make much difference.
New collector rates in HUDA sectors are almost 10 per cent. Meanwhile,collector rates in commercial sectors have been revised to a maximum of Rs 55,000 per sq yard from Rs 35,000 per sq yard in the previous year.
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