Mohali implements new collector rates

The revised collector rates came into force in the district with a hike from 1 to 67 per cent per square yard in pockets, with the residential areas in Dera Bassi villages witnessing the biggest increase.

The revision has been made for residential and industrial properties while commercial rates have been left untouched.

The collectors rate for residential flats in Gillco Park Hills and TDI Sector 117, 118 and 119 have been hiked by 40 per cent per sq ft, JLPL by 21 per cent, Greater Mohali Area Development Authority (GMADA) sectors by 10-20 per cent, MK Technology Park by 14 per cent and Mohali Hills by 0 per cent.

Besides, residential flats in the city (Phase 1 to 9) saw a hike of 32 per cent, while industrial properties in the same area have witnessed a 30 per cent increase.

The rates for village agricultural land has been raised by 5 to 11 per cent in the district. The rate for commercial properties have not been revised while industrial properties have been hiked up to 30 per cent per sq yrd.

Sub-registrar Harmanpreet Singh said, “The rates of almost 50 per cent of the area in the district remain unchanged.”

The residential areas in Zirakpur saw a maximum hike of 21 per cent in collectors rate.

Pandwala village near Dera Bassi, meanwhile, saw phenomenal rise in collectors rate with 67 per cent spurt — the maximum among residential areas in the district. The rate in residential area in Mubarikpur was hiked by 33 per cent and Meerpur 29 per cent.

As the revised rates came into effect today, the sub-registrars office in the Mohali district witnessed a lull with only 35 registries done compared to 120 done on average daily.

Heavy rush on last day with old rates

Officials said October 21, the last working day with old rates, saw a heavy rush. “Residents are still undecided what rates they have to pay. Plus, Diwali holidays have had its effect today. Hopefully, the registries will pick up in coming days,” said Harmanpreet Singh.

Officials said it takes around 15 days when the flow resumes back to normal as information flow is complete.

The collector rate of a property is the minimum price fixed by the government at which a property can be legally registered during a transaction. The authorities use it to calculate stamp duty and registration fees.

Deputy Commissioner Komal Mittal said the new rates have been rationalised after detailed consultation with stakeholders to ensure that property transactions reflect realistic market values and to facilitate smooth registration processes.