Property prices in the city and other parts of Haryana are expected to remain stable, and people will not have to pay extra money for stamp duty at the time of registration. The Haryana government has decided not to increase the circle rate, which is likely to stabilise the overheated property market in the city and adjoining areas.
Chief Minister Nayab Singh Saini has rejected the revenue department's proposal to revise the circle rate. Therefore, the old circle rate will remain applicable. The circle rates were last increased by 10-30% in December 2024, and they were effective until March 2025.
The decision comes at a time when owning a house or flat in the city has gone out of the reach of common people due to unaffordable pricing. Residential plots cost around Rs 2 lakh to Rs 3 lakh per square yard, and the cost of flats starts from Rs 2.5 crore to Rs 3 crore.
The government revises circle rates twice a year, but it can use its special power to change them at any time or stall them as long as it wants. Government officials said it has been decided not to increase them in 2025.
Pradeep Aggarwal, Founder & Chairman of Signature Global (India) Ltd., said, "We welcome the government's recent decision to keep the circle rates unchanged. This timely and thoughtful step will help maintain much-needed stability in the property market, particularly in the key micro-markets of Gurugram, which have seen heightened activity in recent months. By ensuring that property registration costs remain unaffected, the move significantly relieves homebuyers and encourages broader participation from end-users across various housing segments."
"This decision not only makes homeownership more accessible but also sends a strong, positive signal to the real estate sector. It reinforces the government’s commitment to fostering a conducive and balanced environment for long-term growth. Measures like these enhance buyer confidence, support ongoing developments, and contribute meaningfully to the overall health and sustainability of the housing market," added Aggarwal.
Additionally, Ashok Kapur, Chairman of Krishna Group and Krisumi Corporation, said, "The government’s decision to not increase circle rates is going to be a big relief for both homebuyers and investors. By keeping the circle rates unchanged, the government is helping keep property prices stable, which is important in today’s changing real estate market. This move will make buying a home or investing in real estate easier and more encouraging, as it removes uncertainty and ensures a clear registration process.
In areas like Gurugram, where demand is high, this decision will motivate more people to buy property or invest, knowing the costs won’t suddenly increase. It’s a positive step to help the real estate market grow steadily and create more confidence for everyone involved."
