A policy can provide stimulus to City Beautiful industry

OPEN HOUSE: Should the UT allow leasehold-to-freehold conversion of industrial properties?

Admn should fix Fair price of property

There should be a uniform policy for the whole city. Either property should be freehold or leasehold. Chandigarh is never known for its industry. To boost industry in the city the Administration should fix a fair price for industrial properties. This will encourage businessmen to set up more and more industry in the city. If industry grows, the city will grow. The Administration should give facilities and relaxation in the policy related to industry.

Vineet Gandhi, Mani Majra

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Turn UT into business hub

The UT should immediately consider fulfilling the long-pending demand of city industrialists. The Administration should give approval for the lease-hold to free-hold conversion of industrial properties keeping in view the changing dynamics of business in the city. This decisive move will not only ease doing business, but also attract more investments and buyers to the city. This will bolster economy and put Chandigarh on the business map of the country as an upcoming industrial hub.

Simran Sidhu, Chandigarh

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The Issue has been hanging fire

The issue of leasehold-to-freehold conversion of industrial properties seems to be hanging fire. The UT Administration continues to be unfazed on pro-public demands. It has been dilly dallying on pending decisions. With the new Adviser, who has pro-public leaning, understanding issues, the business community now expects sympathetic decisions on its long-pending demands.

SC Luthra, Chandigarh

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Assess fair value of property

Fair value of the property should be assessed if it has to be converted into free-hold. Lease-hold properties have many issues like payment of lease amount to the Administration for 99 years, which is cumbersome. Need of the hour is to convert all lease- hold industrial properties into free-hold. It will help in industrial growth and improve financial stability of units.

Col TBS Bedi (retd), Mohali

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Leasehold Concept no more workable

The concept of leasehold property is no more workable in the UT. Title leasehold of industrial property does not qualify for loan to expand his/her business. How has the Administration benefited from the present leasehold system? Besides, owners always fear resumption of their leasehold properties.

Capt Amar Jeet, Environmentalist

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Policy brought from National Capital

The concept of leasehold properties has been in vogue since long in the UT. It is prevalent in many parts of the country including Delhi. In fact, it seems this rule has been brought from Delhi. The public is trying hard for its removal. The Administration should give a second thought to convert industrial properties into freehold. The Administration can give option to lessees to convert their properties into freehold after paying reasonable charges. The Administration can keep a lock-in period of 25 years before converting any leasehold property into freehold.

NPS Sohal, Chandigarh

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Will be a boon for lessees

If the UT Administration goes ahead with conversion of leasehold industrial properties into freehold, it will be boon for lessees. Though leasehold system is beneficial for the UT Administration as it holds rights of industrial plots, its conversion into freehold will bring relief for the business community. The Administration should consider the long-pending demand of the business class.

MR Bhateja, Nayagaon

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Change policy as per needs of lessees

Necessity is mother of invention. There is no harm to if the Administration allows leasehold to freehold conversion of industrial properties. These plots were allotted a long time ago on leasehold basis. Time has changed. Now, there is no meaning of leasehold policy. The Administration should fix fee to convert industrial plots from leasehold to freehold. It should change its policy as per needs/demands of lessees.

Sumesh Kumar Badhwar, Mohali

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No interest in city’s industrial growth

If one compares the industrial growth of Chandigarh with neighbouring states of Punjab, Haryana and Himachal, its records are dismal. Officials heading the UT Administration are on deputation. They have no interest in development of the city, its business or industrial activities. Also, the Administration has failed to sell many properties on leasehold as their reserved price is high. If the Administration is serious about industrial growth of the city, all leasehold commercial properties should be converted into freehold at nominal charges or on the rate prevailing at the time of allotment. The authorities in Mohali and Panchkula have been able to sell more properties and earn revenue.

Suresh Verma, Chandigarh

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More than 5,000 lessees will benefit

Nearly 70% commercial and industrial plots in the city are on leasehold. Ownership rights in this case are with the UT Estate Office, Municipal Corporation and Chandigarh Housing Board. More than 5,000 lessees stand to get ownership rights if the Administration's decision to convert leasehold to freehold is approved by the Central Government. The UT industrial policy promises to allow conversion of industrial properties from leasehold to freehold to promote ease of doing business. The demand had recently got fresh impetus with the Administration's Advisory Council favouring the conversion of leasehold properties. The Municipal Corporation General House has already passed a resolution demanding a policy for properties in the UT. In the absence of the conversion policy the Administration has been losing revenue as there are few takers for leasehold properties. Lack of ownership rights has created stagnation in the market and impinged on growth of business in the city.

Sanjay Chopra, Mohali

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Will create problems for common man

The Administration can earn one time profit by allowing conversion of leasehold properties to freehold, but it will create problems for the common man. One who buys freehold industrial property will sell at a higher margin. This will have a cascading effect. In such case the cost of production of any product on that freehold plot will go up and the hike will be passed on to the common man. Also, in leasehold property there are less chances of changing its original structure.

Savita Kuthiala, Chandigarh

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Ease formalities for doing business in UT

The rigid rules and too much interference by bureaucrats has lingered on many issues especially those related to the business community. The long-pending demand of industrialists to convert industrial properties from leasehold to freehold should be accepted by the UT Administration. It'll help industrialists expand their business. Conversion rates should be nominal.

Abhilasha Gupta, Mohali

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Issue is raised at time of elections only

The conversion of industrial properties from leasehold-to- freehold category is a burning issue, which is lying pending since decades. During elections the issue is raised by all political parties, which promise to frame a policy in this regard, but nothing happens. The Chandigarh Administration can generate huge revenue from one-time conversion fee. Residents would get reprieve from the burden of lease money and have all rights of their industrial properties. The lease conversion charges should be calculated on the basis of the allotment price. The Centre must intervene and direct the UT Administration to fulfil long-pending demand of the business community.

Sukhpal Singh, Chandigarh

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Selling property will be easier

Allowing conversion of leasehold properties to freehold would facilitate owner. Leasehold belongs to owner for a stipulated period. On expiry of the term, he/she has to get the deed renewed. Financing from banks is not easily available. In case of freehold ownership getting finance for business is easy. Conversion would enable hassle free sale and purchase of properties.

Charu Malhotra, Mohali

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Can boost morale of Businessmen

Definitely industrialists would be encouraged and give a fresh uplift to their projects if the UT Administration goes ahead with the conversion of leasehold-to-freehold properties. Flourishing industry is considered backbone of any city. Therefore, the Administration should consider the long-pending demand of the industrialists. Besides, the conversion process will fetch huge revenue to the Administration.

Surinder Paul Wadhwa, Mohali

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Admn can earn more property tax

The UT Administration has given industrial plots on lease basis to businessmen. Time has changed. The business community is likely to buy freehold properties so that it can be developed and used according to their needs. Besides, businessmen can easily buy and sell freehold properties. If the Administration allows conversion of leasehold properties to freehold it can earn more property tax.

Avinash Goyal, Chandigarh

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freehold policy can lessen problems

The long-pending demand of the business community for the conversion of leasehold properties to freehold should be accepted. A suitable conversion fee should be charged for the purpose. It will mitigate problems faced by UT industrialists. It'll be easier for them to take loans for expanding business. The Administration will be able to generate more finances. The industry in Chandigarh will flourish.

Bharat Bhushan Sharma, Chandigarh

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Freehold property suitable for industry

There are several pros and cons of freehold and leasehold properties. For industrial and economic growth freehold property is suitable. In case of leasehold property, it's like fighting battle with one hand tied at back. It implies lots of restrictions and limitations on additions/alterations necessary for improvement, along with period increasing of ground/lease rent of the property. And the most important is uncertainty about extension of the lease on expiry of the present term. Leasehold property is biggest risk for industrialists. So, for the benefit of the City Beautiful the UT Administration should allow conversion of industrial properties from leasehold to freehold.

Sqn Ldr MS Johar (rtd), Chandigarh

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Free from all encumbrances

Broadly, leasehold means purchasing a property on tenure basis even after paying its full value. Under this system, the ownership will be for 99 years or so. But surprisingly, when a person purchases property at the prevailing market price, why should it not be on freehold basis? Under this piquant situation, every property should be free from all encumbrances. All properties on leasehold basis should be converted into freehold if purchased at the prevalent market rate.

SK Khosla, Chandigarh

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QUESTION

For the past few years, the Chandigarh Municipal Corporation has been trying to convert paid parking lots into smart facilities. All efforts of the civic body have turned futile as contractors failed to provide smart features in parking lots. What needs to be done to ensure that people get all smart parking facilities in the UT?

Suggestions in not more than 70 words can be sent to [email protected]