Punjab: Rules tweaked, buyers must pay in 6 months for properties sold by govt

Punjab Management and Transfer of Municipal Properties Rules, 2021, has been amended under which allottees will now be required to deposit the full sale price within 180 days from the date of allotment, replacing the earlier provision of six half-yearly instalments

The Punjab cabinet on Friday approved an amendment to the Punjab Management and Transfer of Municipal Properties Rules, 2021, reducing the time period given to buyers of properties sold by urban local bodies for depositing the payment.

Chief minister Bhagwant Mann chaired a cabinet meeting in which a few decisions were taken. (File)

The cabinet took the decision in a meeting held under the chairmanship of chief minister Bhagwant Mann at his official residence here. As per the amendment, the time period for depositing the sale price by allottees for properties sold by the urban local bodies will be cut to six months. “The allottees will now be required to deposit the full sale price within 180 days from the date of allotment, replacing the earlier provision of six half-yearly instalments. The decision aims at faster realisation of revenue by urban local bodies, strengthening of municipal finances and facilitation of the common man by reduction in legal disputes related to delayed payments,” said the spokesperson. The decision is intended to bolster the finances of the state’s urban local bodies.

₹5 crore approved for innovation mission

The cabinet also gave a nod to allocation of ₹5 crore to Punjab Innovation Mission to help meet its objectives of developing the state as an industrial hub. The decision has been taken in view of the immense contribution of the mission to unleash the state’s growth potential and create a thriving economy by generating jobs and inviting investment, said the chief minister office spokesperson. Another decision was to frame service rules for the officers/employees serving in 207 specially promoted cadre to streamline the promotions in the Punjab Police, especially those promoted from sports quota. This decision will regulate the future promotions of these police personnel and further streamline their other service matters.

On the recommendations of a Group of Secretaries Committee to review Redundant Laws/ Regularization and Decriminalization, it also approved the Punjab Appropriation Acts (Repeal) Bill, 2025. “As per the recommendations of the committee, the finance department has considered the proposal and identified its Appropriations Acts for repeal, which authorised the departments to incur expenditure from the Consolidated Fund of the State. Repeal of Appropriation Acts whose terms have ended will in no way have any adverse effect on actions that were validly taken or to be taken in relation thereto pursuant to these Acts,” the spokesperson said.