Real estate developers wary of Haryana govt's proposed circle rates

k, Gurugram has 58,000 unsold units - the highest in the national capital region. In Gurugram, unsold stock increased by 12 per cent in 2019 - from 51,840 units at the end of 2018 to over 57,950 units

The proposed circle rates for locations in Haryana have left developers wary of its probable implications on the state’s housing market, which is struggling with poor demand. In its latest round of revision of collector (circle) rates, the state has proposed to hike rates by up to 220 per cent. In the Golf Course Road area of Gurugram, a new rate of Rs 17,000 per square-feet has been proposed. This is a rise of over 210 per cent from the existing Rs 8,000 per sq ft.

While the new rates have been proposed for several locations in Sohna, Manesar, Wazirabad