The district administration has proposed new collector rates for properties for the year 2024, announced on Sunday. People have been invited to raise objections to the proposed rates by December 7.
Purchasing a home in Cyber City could be costly: This year, the property market’s ups and downs are reflected in the proposed collector rates by the administration. This might make buying a home in Cyber City more expensive from the next year onwards. The district administration has suggested new collector rates for properties in 2024, announced this Sunday. People have until December 7 to voice their concerns about the proposed rates.
The proposed new property rates in the areas of Badshahpur, Farrukhnagar, Vajeerabad, Manesar, Sohna, Patuadi, and Harsaru show that Vajeerabad has the highest rates, especially in the Nathupur and DLF areas. In this developing region between villages and the city, both residential and commercial property prices have been suggested to increase by 60 to 70 percent. This marks a significant hike in property values in the region.
The district administration has posted the new collector rates for rural and urban areas on the district website. People can share their objections and suggestions on the collector rates until December 7. After listening to claims and objections, the administration will forward the collector rates to the government. Information about the proposed collector rates will be available on the website for the public on Sunday. The collector rates proposed at the district level will be revised after receiving objections. The public has been invited to submit their objections and suggestions in Room Number 212 in the HRA branch of the district secretariat for corrections and feedback.
Poonam Babbar, the District Revenue Officer, explained that suggestions on registered objections will be carefully considered. Various committees will work on this task. Taking all kinds of suggestions into account, the new proposed rates and recommendations will be forwarded to the state government. A committee designated by the government will complete its process and inform the administration.
Prices in Badshahpur are proposed to increase by up to 80 percent
The administration has proposed an increase of 40 to 80 percent in the rates of agricultural and commercial land in Badshahpur. This includes a 43 percent proposed rate hike for residential land in Ghasaula. For commercial land in Teekli, Ramgarh’s Dhaani commercial area, and Redwood City’s commercial land, the proposed increases are 43 percent, 43 percent, and 87 percent, respectively. Prices in residential areas such as Tatvam Villas, Victor Valley, and Emaar MGF Marbella have also been suggested to rise by up to 61 percent.
In Farrukhnagar, the rates for agricultural land have been proposed to increase by 87 percent, while commercial land may see a 35 percent rate hike. In Vajeerabad, changes in rates from 61 to 70 percent have been suggested for residential and commercial land. This includes a potential 61 percent increase in residential land prices in Nathupur. In the DLF Phase-1 to Phase-5 areas, the highest increase in land prices, up to 70 percent, is expected in residential and commercial properties.
The property business is going to be affected
People involved in the property business are saying that the collector rates in the district are already high. Increasing them further will affect the property business. They express concern that this will make it more expensive for the general public to build homes in Cyber City. According to them, the development of the city is happening more in areas like Badshahpur, Sohna, Patuadi, and Farrukhnagar.
In these areas, many companies are running projects, and this will increase the burden on those looking to buy flats. VMK Singh, a property advisor from Suncity, said that the government has proposed to increase the collector rates, which will make the property more expensive. In such a situation, buying a plot in New Gurugram will become costly, affecting the property business.
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