The Haryana government on Monday pronounced on Monday to slit circle rate by 15 % in Gurgaon city to restore the real estate market and carry buyers back into the market. Expert said that with this step government has identified that there is a decline in the real estate market.
Chief business officer Narasimha Jayakumar, 99 acres said, ‘’ the step will help in much improving the whole sentiments. It is expected that prices of both new and resale properties will down, mainly for ready to move in discovery and plots.
With the help of experts, points are here which is going to affect the buyer and builder community.
- As capital tax gains is calculated circle basis rate, this total cost of ownership is likely to down.
- Registration of property which had reduced in Gurgaon is also expected to observe increment, thus bringing in the needed much credit to the state government.
- The down will also help sell the parcels land meant for commercial. In this year month of March , 96 Commercial properties auctioned by Haryana Urban Development Authority, only 10 were sold, due to high circle rates.
- Builders would witness the light of the day with sales number beat.