Despite slump, residents show interest in real estate at Kharar

Our Correspondent

kharar, November 13

On the one hand, there is a slump in the real estate sector in Punjab and prices of property have gone down drastically, while people are showing interest in purchasing land and flats in Kharar area.

In the year 2017-2018, 13,764 sale deeds were registered at Kharar tehsil while this number increased to 16,108 during the financial year 2018-19. Even this year from April 1 to October 31, as many as 10,259 sale deeds have already been registered before the Sub-Registrar of Kharar tehsil. The total number of sale deeds to be registered during the remaining months is likely to cross the total figure of the last year. In October, there has been an increase of 18 per cent in the revenue income from the registration of sale deeds as compared to the income of October, 2018.

This is happening reportedly because a large number of Himachal Pradesh residents, who want to live near Chandigarh or their children are studying in Chandigarh or areas near Kharar, are purchasing flats near Kharar.

Sub-Registrar Gurmandar Singh said due to the policies of the state government, people visiting the Kharar were getting the registration of sale deeds without any delay.