Gurgaon proposes 15% cut in circle rate

The Gurgaon administration has proposed to slash circle rates of properties by 15% this year to help revive a slumbering real estate market that is in the grip of a prolonged downturn. If the Haryana government approves the proposal, it will be the first time in recent history that Gurgaon, a premium real estate market, will see the circle rate graph slip downward. In the previous two financial years – 2014-15 and 2015-16 – circle rates in the city were kept unchanged but failed to lift buyer sentiment.

Read more: Economic Times