A realtor in Gurgaon, V M K Singh, said in residential areas such as Suncity — which will see a 30% increase in circle rate — the gap between market price (actual price at which a property is sold) and circle rate is significantly wide.

Over the last 15 months, real estate company DLF has sold out three residential projects in Gurgaon for Rs 20,000 crore. Each unit was sold in the range of Rs 6 crore to Rs 8 crore, within three to seven days of the pre-launch of the projects. Next in its sights is a super-luxury project, which will be formally launched next year, with a flat going for Rs 70 crore.

The reason: Property prices in Gurgaon have seen a tremendous rise since the Covid-19 pandemic. Aided by various infrastructure projects, like the Dwarka expressway and the expansion of the Metro network, realty firms are witnessing a spike in the sale of properties.