Collector rate hiked in Mohali district

The new collector rate for residential, commercial and industrial properties in the Mohali district will be applicable from September 16 onwards. The new collector rate for the areas under the Zirakpur sub tehsil range from 14 to 50 per cent per acre/per sq yards/ sq ft depending upon the location of the property. The hike in some urban areas is upto a maximum of 50 per cent while in rural areas it ranges between 14 to 33 per cent.

In Mohali and Kharar tehsil, the hike is from 25 to 50 per cent.

Overall, the buyers will have to shell out more to buy land or property in Zirakpur sub-tehsil from now on.

Realtors gave a tepid response to the hike, claiming the hike in rates will slow down the sale of property. In rural areas, agriculturalists whose land is set to be acquired for different projects are content with the decision, hoping better returns for their agricultural land.

District Revenue Officer Aman Chawla said, “The hike has been in line with the market prices of the properties. It is done after assessing the existing rates and taking public input.”

The district magistrate had begun the process of assessing the rates in the last week of the June.