UT administration slashes collector rates after three years
The UT administration on Saturday revised collector rates in the city after three years. The new rates will be applicable from January 2.punjab Updated: Jan 03, 2016 00:53 IST
The UT administration on Saturday revised collector rates in the city after three years. The new rates will be applicable from January 2.
The rates have been reduced in Industrial Area by 20% and up to 10% in residential areas with creation of three new zones. The rates of commercial property have also been reduced by 10% in Sectors 17 and 22, sub-city centre-34, Madhya Marg and the dividing road of Sectors 34 and 35.
The UT deputy commissioner Ajit Balaji Joshi said the rates had been revised in response to a representations given by various organisations and demand of city residents. It was being said that the collector rates were more than the prevailing market rates in various pockets of the city, including Industrial Area, showrooms on Madhya Marg, Sectors 17, 22, sub city centre-34 and the dividing road of Sectors 34 and 35. The residents were also demanding rationalisation of rates as per location of sectors.
To bring more clarity, the administration added new terms such as shop-cum-shop (SCS), bay shop, other flats (cooperative societies’ flats, etc).
Officials claimed the general reduction in rates was likely to benefit people to the tune of around Rs 20 crore. They said the revenue collection would also increase due to more transactions.
The collector rates will be revised every year on March 31.
President of the Property Federation, Chandigarh, Kamaljit Singh Panchhi said the administration follows the Punjab government pattern. He said after surveying the market, the Punjab government reduced the collector rates by 40 to 50% in a year. The rates reduced by the Chandigarh administration is not as per the prevalent market rates of the property. The meagre reduction in rates will have no impact and it should be further reduced by April 1.
The administration has added 5% extra in case of a corner plot, converted residential sites into nursing homes, hospitals, falling under residential category, housing board flats/industrial houses, other flats in co-operative societies, cheap house and Shivalik Enclave (residential), Milk Colony, Dhanas, (residential).
Here is a more comprehensive list of the revised rates: