Open House: Is the chandigarh administration’s drastic increase in the collector rates justified?
Not good for the city in long run
The hike in collector rates could create new challenges for the city in the long run. The drastic increase will inevitably lead to a slump in sale and purchase transactions of properties, ultimately resulting in reduced revenue for the administration. It will in turn stifle development. Considering the current economic challenges, there's a need to relook at the like. As it stands, the hike in collector rates could push more businesses to shift to Panchkula and Mohali.
Anita K Tandon, Mundi Kharar
Administration should rethink the proposal
The proposal to increase collector rates in Chandigarh by the UT administration will debar the middle class from dreaming to purchase a house in Chandigarh. The exorbitant increase the rates shows the mismanagement of administration, which has been spending on unwanted projects and looking to earn and generate revenue by charging huge rates from the helpless buyers. The administration should rethink the proposal.
Gobind Ahuja, Chandigarh
Scale down stamp duty, registration fee
Collector rate is the minimum value at which a property or land is registered with revenue authorities. Compliance is mandatory to calculate stamp duty and registration fee. Depending upon market trend, the circle rates do need periodical increase, but certainly not that simply makes property unaffordable. Since high stakes are involved in such transactions, the authorities while revising the rates should scale down stamp duty and registration charges to avoid financial dent to stake holders.
SS Arora, Mohali
Will adversely impact property market
Property rates in Chandigarh have already escalated and purchasing property is already beyond the means of the common man. The escalation of proposed collector rates in Chandigarh has further extenuated the position. The rates will not only affect the common man, but it will further bring turmoil in the private property market. To give a sigh of relief to the residents who intend to purchase property, collector rates need to be slashed.
SK Khosla, Chandigarh
Balance out by reducing tax
If the government increases the collector rate and decreases the tax, it helps to reduce the price of the property, which is otherwise touching the a high. It also helps curb the black money in the system, which otherwise is easily adjusted. The government should implement the changes on priority. In Chandigarh, even houses meant for economically weaker sections are sold up to Rs 50-60 lakh, which is totally unjustified but allowed in the system.
Avinash Goyal, Chandigarh
Decision will stall development
Members of the middle class will be unable to find permanent homes in Chandigarh due to hike in collector rates. Most of society houses and commercial establishments are on lease and hence the ground rent will also increase an additional burden on city residents. UT's decision will stall development in tricity as land prices in Chandigarh periphery will also increase which will affect investments and creation of jobs in this region. Therefore keep collector rates at par with tricity.
Col Balbir Singh Mathauda (retd), Chandigarh
Will place undue financial burden
I am writing to express my concern regarding the UT administration's proposal to drastically increase collector rates, especially with rural areas seeing a four-fold rise and urban areas experiencing a hike of over 100%. Such a sharp increase could place an undue financial burden on landowners, particularly in rural areas where the population is generally less affluent and more dependent on agriculture. While it is understood that these rates are periodically revised, the extent of this increase seems disproportionate and may lead to a further widening of the socio-economic divide. This steep hike could deter potential investors, create affordability issues for land transactions.
Sanjay Chopra, Mohali
Will only benefit a certain section
By increasing the collector rates, the administration simply wants to make rich people richer and the poor poorer. Today, the richest people live in rural areas by constructing their own villas, resorts and farm houses which in turn gives them a handsome income. In the current scenario, the richest people will pay more collector rate to buy more and more properties whereas the middle class men will only be left with the option to live on rent in their properties. So, the administration should lower the rates to balance things out.
Savita Kuthiala, Chandigarh
Nominal rates will boost purchase
The UT administration it would seem is hell-bent on putting the people under financial strain on the pretext of hike in collector rates. This is simply a method to fill the government's coffers. There should be nominal collector rates to boost purchase and registration of property and earn revenue.
Abhilasha Gupta, Mohali
Cannot benefit at people's expense
The significant increment in collector rates proposed by the UTadministration cannot be justified at all. The prices of the properties will further increase due to the increase in charges. The revenue of the government will increase but it cannot be collected at the cost of peoples living. The other source of revenue generation and increasing can be tapped to avoid load on citizens.
Wg Cdr JS Minhas (retd.), Mohali
Hike should be biennial process
The Rock Garden as a heritage must be preserved in its original form. To augment additional parking space in the vicinity of the high court complex, the only vacant spot that catches the eye is the golf course. The diversion of this space will affect only a selected few but will benefit a large number of daily visitors to the complex.
A Balaji, Chandigarh
Will stop circulation of black money
Honest denizens need to cheer and celebrate with a sense of relief as the increase in collector rates is one such small step to reduce the circulation of black money to a large extent which has devoured the vitals of our society. The revenue of UT administration stands to gain by leaps and bounds as it will have a cascading effect on the head stamp and registration fee. It will help the cash-strapped administration, thus empowering them to focus on strengthening infrastructure.
Brigadier Advitya Madan, Chandigarh
A phased approach needed
Increase in collector rates, such as the UT Administration's proposed fourfold hike in rural areas and a 100% rise in urban areas, can have far-reaching implications. While higher rates may boost government revenue and align property valuations with market trends, such an abrupt surge could burden buyers, investors, and existing property owners. It may inflate property prices, discourage real estate transactions, and impact affordable housing. A phased approach would be prudent to prevent economic disruption.
Harinder Singh Bhalla, Chandigarh
Eliminate increment for certain groups
Increment in the collector rate should be decided after considering the real burden of the same upon low and middle incomes, and instead be aimed at redistributing from the rich to the poor to reduce inequalities. Measures like reducing or eliminating the increment for marginalised groups, above some threshold value and then gradually increasing the rate, allowing mortgaging or delayed payments of liabilities for such households can be adopted.
Vaibhav Goyal, Chandigarh
Lower collectors rates mean low value
Prevailing market rates are still higher than the announced collection rates in UT. Salaried classes have to make payments by making white money to black money for purchase of property. Collector rates should be matching with the market rates. Keeping rates lower than market rates depicts support to black money circulation and lower government revenues generation. Lower collectors rates mean low valuation and bad economic for mortgage and loans.
Ashok Kumar Goel, Panchkula
Plan to hike rates is short-sighted
The drastic increase in collector rate is unjustified. The administration should roll back the move as this will burn a big hole in the pockets of the residents. The city has a large population of government employees and senior citizens who survive on their monthly pension. This move will deter their settlement plans in Chandigarh. The property prices will skyrocket and the administration will eventually lose revenue when people move outside the city to meet their residential needs.
Sunny Dhaliwal, Chandigarh
Keep cost inflation index in mind
The increase in collector rates by UT Administration needs to be correlated with cost inflation index from time to time. Increase in rates must be justified based on prevailing market rates. This way UT will also earn good amount by increase in stamp duty. Increased amount can be used for development of city beautiful and there will be adequate control on black money transactions.
Col TBS Bed, Mohali
Will improve fiscal condition
The significant increase in collector rates proposed by the UT administration is highly commendable. This move will not only boost revenue for holistic development but also act as a deterrent to black money. Similar measures are strongly recommended for other states, particularly Punjab, given its alarming fiscal condition.
Flying Officer BS Dhillon, Mohali
Consult all stakeholders
A 100 per cent hike in collector rates would significantly increase the financial burden on residents and businesses in these areas. Such illogical a steep hike is not justified, as it may lead to increased costs for property owners, buyers, and sellers. It's essential for the UT administration to engage in a discussion with stakeholders to determine a fair and reasonable collector rate.
Capt Amar Jeet, Kharar
