The Mohali administration has increased collector rates for properties, which would come into force from July 4. The collector rate is the price below which a property cannot be registered in government records. With the hike in collector rates, the rates of properties will increase and the construction costs will also go up.
According to the information, the rates have been fixed in urban and rural areas of Mohali. The collector rates of Sectors 48 and 48-C have been revised from Rs 20,000 per square yard to Rs 30,000 per square yard.
In Phases 3 B1 and 3 B2, the rates have been revised from Rs 22,000 per square yard to Rs 30,000 per square yard. In Phases 9, 10 and 11, the rates have been revised from Rs 20,000 per square yard to Rs 30,000 per square yard.
In Sectors 76-80 and 85-89, the rates have been revised from Rs 17,000 per square yard to Rs 30,000 per square yard. For commercial sectors, the rates have been revised from Rs 85,000 to Rs 90,000 in Sectors 53 to 59. In Sectors 92-104, the rates have been revised from Rs 35,000 to Rs 50,000.
The rates have been revised for apartment buildings as well. For the ones located in Sectors 68-70, the rates have been revised from Rs 2,000 to Rs 2,200 per square feet. The collector rates have been revised in 82 villages of the district.
For new constructions, up to five years, the rates have been revised from Rs 700 to Rs 2,000. For constructions from 5 to 10 years, the rates have been revised from Rs 700 to Rs 1,200.
Deputy Commissioner (DC) Amit Talwar said that the collector rates have been fixed under Rule 3-A of Punjab Stamp Duty rules for the year 2022-2023.
Shailander Anand, a property consultant, said that with the revision in rates, new investors will not come to the state. He added that the state government must give relief to people investing in the property market. “The market is already down. With this revision, it will further face a setback,” he added.
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NOC no more needed to register licenced property
Amid growing illegal colonies in Mohali and adjoining districts, the Greater Mohali Area Development Authority (GMADA) declared more than 60 housing, industrial and mega housing projects licenced, where buyers need not get the no-objection certificate (NOC) for the registration.
According to the officials as many as 44 housing colonies have been licensed in Mohali, seven in Patiala and 14 in Ropar. As many as 13 mega industrial projects were also approved.
The officials of GMADA said that the list was uploaded on GMADA’s website. The officials said that the list was approved on June 6 by the revenue department. Sukhdev Chaudhary, president of Joint Action of Residents Welfare Association (RWA) of Zirakpur said that he had been raising the issue of people facing difficulties in getting their properties registered. “With the list up on the website, buyers would at least get to know about the licensed projects,” he added.