With the second wave wreaking havoc on the economy, real estate professionals think the government should continue to assist the industry. Realtors in Delhi have requested that lower circle rates, or floor pricing, be extended by a fifth in the national capital and that planned hikes in these tariffs for the satellite town of Gurgaon be rolled back by up to 90%. With the second wave wreaking havoc on the economy, real estate professionals think the government should continue to assist the industry. In March, Delhi announced a decrease in circular fees for the next six months, whereas Gurgaon announced a rate increase beginning in April. “Because revenue offices in Delhi were closed for almost two months owing to the lockdown, the advantage of lower circular rates should be extended by at least two months,” said Amit Goyal, Sotheby\'s International Realty\'s India chief executive. “There has been a lot of interest in high-end real estate. The Gurgaon administration\'s decision to raise the circular rate came at the worst moment, just before the second wave hit.” The decision by Gurgaon authorities to raise the circular rate by up to 90% would, according to developers and property experts, have a detrimental effect on the local real estate market and hinder recovery. Upcoming affordable housing project in Gurgaon are rising in number due to the popularity.
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