Gurgaon to boost property demand
The Haryana government’s decision to cut circle rate in Gurgaon by 15 per cent would help boost property demand and revive sluggish real estate market.
“The Haryana government’s decision to cut circle rate for the first time ever by 15 per cent would act as a catalyst for revival of the real estate market,” property consultant Cushman & Wakefield said.
Home buyers would now face reduced burden of stamp duty, registration charges and property taxes. Since the circle rate cut applies to commercial properties too, developers would also be benefitted as stamp duty, fungible FSI and TDR are determined by circle rates, the consultant said.