The Indian Express 03.08.2013
UT hikes collector rates by 50% for residential, commercial properties
the city, as the UT Administration on Friday announced an increase of
around 50 per cent in the collector rates for residential as well as
commercial property.
However, the collector rate for industrial property has been hiked by around 5 per cent.
Collector rate is the minimum value that the administration fixes
for various types and sizes of property. For residential property in
urban area, the collector rate has been fixed at Rs 82,368 per sq yard.
Last year, this was Rs 54,912. For independent housing board flats as
well, the collector rate has been fixed at Rs 82,368 per sq yard.
For the housing board flats on the ground floor, the collector
rate has been fixed as Rs 30,888 per sq yard. For the first floor, it
would be Rs 24,024 per sq yard; for the second floor, it would be Rs
17,160 per sq yard; and for the third floor, it would be Rs 10,296 per
sq yard. The collector rate for cheap houses has been fixed as Rs 51.48
lakh. For Shivalik Enclave, the collector rate is Rs 51,480 per sq yard.
In the villages under the Municipal Corporation, the collector
rate for property would be Rs 10,296 per sq yard, while for those under
the administration, it would be Rs 6,864 per sq yard. Earlier, it was Rs
6,864 in villages under the Municipal Corporation and Rs 4,576 in
villages of the administration.
The collector rates were decided by a committee constituted under
the chairmanship of UT Deputy Commissioner Mohd Shayin. “The collector
rates of Panchkula and Mohali were analysed before finalising these for
Chandigarh. The price of property in Chandigarh is much more than that
of the neighbouring towns. We have tried to make the collector rates
nearer to the actual value. The sale and purchase of property is not
likely to be affected,” he said.
The other members of the committee were ADC Tanvi Garg, Assistant
Estate Officer Rahul Gupta, Treasury Officer Rajiv Tewari and Tehsildar
(Revenue) D S Balouria.
However, for commercial property, the collector rates for booths
in Sectors 17, 19, 34, 22 and 35 would be Rs 4.63 lakh per sq yard. For
booths in Sectors 7, 8, 9, 26, 16,18, 20 and 21, the collector rate
would be Rs 3.70 lakh per sq yard while for those in Sector 23, 24, 32,
37, 38 and other sectors, it would be Rs 2.57 lakh per sq yard.
The collector rate for an SCO in Sector 17 would now be Rs 7.20
lakh per sq yard. For SCOs on Madhya Marg, Sector 34 and Sector 22, it
would be Rs 5.14 lakh per sq yard.
Kamaljit Singh Panchhi, the advisor of the Property Dealers
Association, feels the new collector rates would have a bad effect on
property sale and purchase. “The auctions in Panchkula and Mohali have
not yielded good results. The property market is not finding any takers.
No one would want to invest in Chandigarh. People would instead buy
property in the neighbouring areas where the rates are less,” he said.
