Hike in Collector rates - Property market in Zirakpur suffers

Hike in Collector rates - Property market in Zirakpur suffers

Owning a property in chandigarh  has become a costly affair as the collector rate and the fee for getting building plan approved has been hiked by the authorities.

A common man who is thinking of owning a small residential house in this region is hit badly by the hiked collector rates. Imagine, before April 1^st, 2011, owning a small six Marla (150 sq yards) plot could be accomplished with the payment of Rs 75,000 (as collector rates) as compared to Rs 1,35,000 today for the same. The buyer will have to also pay Rs 45,000 for getting approval for building plan.

The information about the hike is drafted on the basis of categories focused on location, for example the location of the property in concern is on the main road, on the link road, their placement in the municipal limit of Zirakpur etc. Registration rates for the land on the main road have been increased from Rs 1 cr to Rs 3.5 cr per acre. Similarly, the land rates have been fixed at Rs 1.5-2 cr per acre for the inner parts of
property in zirakpur.

For commercial properties the rates have been increased from Rs 9000 to Rs 18,000 per sq yard.  The rates in approved residential colonies have been increased to Rs 9000 from Rs 5000 and for residential sites without any name of the colony; the rate has been fixed at Rs 8,000 per sq yard.

About the Author

jhon 123yards.com is part of the Datasoft(IT solution proving company),  is a comprehensive real estate portal dedicated to provide exquisite services (buy sell rent and lease) in real estate sector covering primarily three states (only their main cities) of northern India for instance Punjab, Haryana, Himachal and their cities such as Chandigarh (U.T.), Mohali, Panchkula, Zirakpur, Derabassi etc

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