Rohtak: Collector rate hike to benefit property buyers, say realtors

The circle rates of property have been increased by 5 to 25 per cent in different parts of Rohtak district. On an average, the circle rates or collector rates in the district will increase by 10 to 15 per cent.

Real estate dealers maintain that the hike in circle rates will not have any adverse impact on the market, rather it would benefit the property buyers as they will be able to get higher loans from banks.

“Hence, the hike in Collector rates is likely to boost the market,” said NK Sharma, a realtor based in Rohtak.

Ramesh Rana, a local property dealer, said the government should reduce the stamp duty on property registration along with increasing the circle rates.

Persons engaged in property trade state that the registration of property is not being done for a couple of days in view of the revision of circle rates.

However, the District Revenue Officer, Pramod Chahal, stated that the registration of property was going on as usual.

Meanwhile, the property dealers point out that the registration was being done in only those cases for which the tokens had been issued, while new tokens were not being issued. Meanwhile, market observers state that as of now, the property market is stagnant in Rohtak.

“There are not many buyers and the property owners are not very keen to sell as the market rates are not on the higher side. We can hope that the property market begins to look up following the hike in circle rates,” says Kamal Leekha, another realtor.