Haryana Halts Circle Rate Revision Amid Skyrocketing Property Costs

Stability Measures Announced Amid Soaring Property Prices

In an effort to bring stability to Haryana’s overheated real estate market, the state government has opted to retain existing circle rates without any revision. Officials confirmed that property buyers in Gurgaon and other regions will continue to pay the previous stamp duty charges during registration, avoiding any additional financial burden.

CM Nayab Singh Saini Rejects Proposal for Rate Hike

Chief Minister Nayab Singh Saini reportedly turned down the revenue department’s proposal to revise the circle rates upward. Consequently, the circle rates that had been increased by 10-30% in December 2024 will remain applicable, providing relief to buyers across key markets.

Boosting Buyer Confidence Amid Rising Home Costs

Real estate experts indicated that this decision is likely to stabilize the property market and encourage wider participation in housing. With residential plot prices hovering between ₹2 lakh to ₹3 lakh per square yard and flats starting at ₹2.5 crore to ₹3 crore, affordability had become a serious concern for the average homebuyer.

Government Holds Discretion on Circle Rate Revisions

While the government generally revises circle rates twice a year, it retains the authority to alter or freeze them at its discretion. Officials noted that, given the already high rates in Gurgaon and Faridabad, any further hike could have triggered public discontent.

Industry Welcomes the Move

Pradeep Aggarwal, Founder & Chairman of Signature Global (India) Ltd., praised the government’s decision, describing it as a timely intervention that would ensure market stability. He suggested that maintaining current rates would lower registration costs, support sustainable growth, and reinforce momentum in the housing sector.

Elections Delayed Earlier Revisions

Officials also explained that earlier revisions in March 2024 were postponed due to the Lok Sabha elections. Subsequently, the assembly election announcements delayed further changes. The new government, formed in October 2024, had implemented revised rates in December that year. However, no fresh reports have been sought from districts regarding any updates, according to the revenue department.

Disclaimer: This article is intended for informational purposes only. While every effort has been made to ensure the accuracy of the information provided, readers are advised to verify the latest updates independently before making any property-related decisions. The website and its authors are not responsible for any loss or damages arising from reliance on the content. Circle rates and government policies are subject to change without prior notice.