Major boost for realty in Gurugram, other places in Haryana-floor wise commercial property deals allowed
New Delhi: In a major boost for the real estate sector, the Haryana government has permitted floor wise purchase and sale of commercial properties.
But the registration of various commercial properties, even shop-cum-flat and shop-cum-offices, will be allowed only after payment of the applicable administrative charges that range between Rs 20,000 and Rs 1.5 lakh. There will also be a one time levy of stamp duty which will be 1 percent on the property transactions.
The Administration Charges used to be Rs 10,000 for commercial property deals.
Presently, there are 3 slabs for stamp duty calculation for property deals-5 percent for ladies, 6 percent for the joint-property owners and 7 percent for men.
For the new rules, districts in the state have been put in six different categories for calculation of charges-Gurugram-Manesar will be under ‘Hyper Category’, Faridabad-Ballabhgarh and Sohna will be under ‘High-I Category’, the government said in a press statement.
Panchkula district, Sonepat-Kundli belt and Panipat district will be under ‘High-II Category’.
Similarly, Kaithal, Bhiwani, Jind distrcit, Fatehabad, Sirsa, Mahendragarh, Narnaul district and Jhajjar district will come under ‘Low-I category’. Hansi district, Gharaunda, Assandh district, Indri, Narwana district, Naraingarh, Nilokheri district, Ratia district, Shahbad, Tohana and Talwandi Rana belt will come under ‘Low-II category’. Th other districts will come under ‘Medium Category’.
The Administrative Charges for shop cum office has been kept at lowest level -Rs 50,000 for “Low-II Category’. It will be highest for ‘Hyper Category’ -Rs 1.5 lakh.
"We expect more investment to pour in as floor-wise purchase and sale is allowed in Haryana now. It is going to see further developments on Sohna Road and Dwarka expressway, which already is coming up as the most talked about micro markets in the region. The timing of the decision is good as the government recently showed its inclination towards infrastructural development. Under DDJAY, such independent residential floor options are safe investments and are delivered in shorter time than others. All these factors will work wonders for commercial real estate," Pradeep Aggarwal, Founder & Chairman – Signature Global Grp.
For shop cum flats, the lowest Administrative Charges will be Rs 40,000 for “Low-II Category’. It will be highest for ‘Hyper Category’-Rs 1 lakh.
“Gurugram has always been at the forefront of real estate be it commercial or residential. The realty market here has been attracting HNIs and ultra HNIs for the quality of real estate products. The latest development where Haryana government will allow floor wise purchase and sale of commercial properties will help attract more investors. The decision is important in the backdrop of the recent development which has made people realize the benefits of investing in commercial properties,” Achal Raina, COO Raheja Developers.
For the double-storey shops, the lowest Administrative Charges will be Rs 20,000 for “Low-II Category’. It will be highest for ‘Hyper Category’-Rs 75,000 lakh.