Chandigarh Property Purchases To Get Costlier From THIS Date; This is Why

This marks the primary revision in 4 years, with the final hike carried out in April 2021. The proposed charges embrace a 400 per cent soar for residential properties in villages, a 130 per cent improve for properties in Sectors 1 to 12, a 96 per cent hike in Sectors 14 to 37, and an 80 per cent rise in Sector 38 and past.

In distinction, the neighbouring district of Mohali had revised its collector charges in September 2024, rising charges for residential, industrial, and industrial properties by 26 per cent to 50 per cent relying on the locality. This got here after a big hike of 42 per cent to 76 per cent in 2022.

What Are Collector Charges?

The collector fee is the bottom worth at which a property should be registered with the federal government. It additionally serves as the premise for calculating stamp responsibility throughout property transactions.

On Wednesday, the UT administration issued a public discover looking for objections and options from the general public relating to the proposed hike in collector charges. Residents can submit their suggestions by way of electronic mail at de-chd@nic.in or in writing on the Property Workplace by March 20. The ultimate notification will likely be launched on March 25, with the revised charges coming into impact from April 1.

An official said, “The proposed charges had been determined after analysing sale deeds registered on the Sub-Registrar Workplace, together with findings from a market survey and village evaluation.”

Property Sellers Criticise Proposed Fee Hike:

Nonetheless, the proposal has confronted opposition from the Chandigarh Property Sellers Welfare Affiliation. Its normal secretary, Jitendra Singh, criticised the transfer, calling it a dictatorial resolution towards the general public. He argued that with inflation already burdening the folks, registering properties at such inflated charges would turn out to be practically inconceivable.

He challenged whether or not authorities officers might afford houses at such steep charges, questioning, “If they can’t, how can imposing this monetary burden on widespread folks be justified?” He criticised the choice as irresponsible, warning that it might disrupt town’s actual property market and make homeownership out of attain for a lot of residents.

Equally, Naveen Manglani, vice-president of the Chamber of Chandigarh Industries, slammed the proposed hike, calling it a “recipe for catastrophe.” He argued that the proposed 33 per cent hike in collector charges — from Rs 62,599 to Rs 83,000 per sq. yard in Industrial Areas — is extremely inflated and doesn’t mirror the precise market charges. He warned that such a steep improve would possible decelerate property transactions, finally resulting in a decline within the administration’s income.