Collector rates slashed by 10-15% in Panchkula

Tribune News Service

Panchkula, June 23

The collector rates in Panchkula have been reduced by 10 to 15 per cent, bringing cheer to property buyers and industry people here.

In view of the lower collector rates in the neighbouring industrial belts of Baddi and Mohali, the Haryana State Property Welfare Association had sought a 50 per cent decrease in the collector rates from the Haryana Government.

“We wanted a bigger cut in the industrial and commercial categories. However, we are happy with the decision and are thankful to Chief Minister Manohar Lal Khattar and MLA Gian Chand Gupta. This will help contain ‘industry migration’ and will give an impetus to the industrial growth,” said Suresh Aggarwal, president of the association.

The collector rates in the residential areas of Sectors 6, 7 and 8 have come down to Rs 47,000 per sq m from Rs 53,000 per sq m in 2015-16. For preferential plots (corner and A Road plots), the clause of 10 per cent increase has not been adopted and the prices remain the same. In other residential sectors, the collector rates have come down at almost the same rate.

In the case of industrial areas, for an area up to 1,000 sq m, the collector rates have been reduced to Rs 27,000 per sq m from Rs 30,000 per sq m.

In the commercial property segment — SCOs in Sectors 7 to 11 and 20 — the collector rates have been slashed to Rs 2,00,000 per sq m from Rs 2,15,000 per sq m last year. Similarly, the collector rates have been slashed in the case of SCFs, booths, service booths and the grain market, Sector 20.

Industry insiders said in 2011-12, the industry was severally hit after a three-fold increase in the collector rates for industrial and commercial properties. The collector rates in the case of residential property were also raised by 50 per cent at that time.

They said the reduction in the collector rates by 10 to 15 per cent was “unprecedented” in the history of the district.