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The Haryana government has decided to freeze circle rates to help curb rising real estate prices, following a 10-30% hike implemented in December 2024. This move, welcomed by industry players, keeps rates unchanged in key markets like Gurugram, offering relief to homebuyers. Haryana usually revises circle rates twice a year but has paused adjustments to control inflation and restore market confidence. Earlier, revisions were delayed due to the 2024 Lok Sabha and assembly elections. As property prices continue to rise, such policy measures are seen as critical to maintaining affordability and stability in the state's evolving real estate market.
In an important policy decision, the Haryana government has chosen to freeze the circle rates for the time being in an effort to slow the skyrocketing prices of real estate. This freeze comes after a substantial hike of 10-30% in December 2024, which was initially set to be in effect until March 2025. With the freeze in place, the rates will remain unchanged, offering some relief to homebuyers in key markets such as Gurugram, where property prices have risen sharply. Advertisement
The decision to maintain the existing circle rates has been welcomed by industry stakeholders.
The Haryana government typically revises circle rates twice a year, but it has the discretion to make adjustments at any time based on prevailing market conditions. The freeze, according to government sources, was intended to curb further inflation in property prices and restore confidence among both developers and buyers.
This latest development follows a series of policy adjustments in the state's real estate sector. In March 2024, the Haryana government had postponed the planned revision of circle rates due to the impending Lok Sabha elections, and subsequent delays occurred as the assembly elections were held. Once the
As the real estate landscape continues to evolve, such policy interventions are crucial in ensuring that housing remains accessible and that the market does not become overly inflated.
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