Collector rates revised; property in Chd to become costlier

Chandigarh: It will get costlier to buy a property in the city from April 1, particularly residential properties of any type.The Chandigarh administration has increased collector rates across all categories. The sharpest increase is in the residential category, wherein the collector rate has increased by up to 33% in the plotted segment. In housing board flats, the increase is up to 25%. For societies' flats, the increase is up to 15%.Last year, collector rates saw a nearly 130% hike in sectors 1 to 12, 96% in sectors 14 to 37, 80% in sectors 38 and beyond. Previously, in the revision made in April 2021, rates of commercial properties were reduced by 10%, rates of industrial plots by 5% and rates of agricultural land were increased by 10%.In 2024, while setting the modalities for calculation of the collector rates in the city, the administration decided that collector rates would be revised as per the procedure set under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.A draft of collector rates has been made public and public comments have been invited, after which revised collector rates will be notified. The administration has constituted a 10-member committee headed by the DC for calculation of collector rates. The committee includes members from the estate office, UT revenue department and the architect department.To ensure that the collector rates are regularly updated in the Union Territory, April 1 of every year was defined as the date of notification of new circle rates of Chandigarh.BOX: Old/New RatesArea | Old | New (in Rs per sq yard)ResidentialSector 1 to 12 | 1,78,600 | 2,37,900Sector 14 to 37 | 1,47,600 | 1,81,300Sector 38 & onwards | 1,28,200 | 1,33,200Independent dwelling unit | 1,26,400 | 1,53,900Housing Board Flats (Rs per sq ft)G.F | 9,300 | 11,0001st Floor | 7,490 | 9,0002nd Floor | 6,810 | 8,0003rd Floor & onwards | 5,800 | 7,200Societies / HousesG.F | 9,650 | 11,1001st Floor | 10,200 | 11,4002nd Floor | 9,140 | 10,3003rd Floor & onwards | 7,900 | 8,700IndustrialInd'l Area Ph-1 & II | 83,100 | 86,000Ind'l Area Ph-III | 62,600 | 62,600CommercialBooth in Sec 8, 15, 19, 22, 34, 35 & 17 (except 17-A & 17-B) | 5,54,400 | 5,92,200Booth in Sec 7, 9, 10, 11, 26, 16, 17-A & 17-B, 18, 20, 21 & 32 | 3,97,100 | 4,47,100Booth in other sectors | 2,97,700 | 3,27,400SCO/SCF Sector 17 | 5,54,400 | 5,92,200SCO/SCF/Bay Shops/Shop/Motor Shop on Madhya Marg, Sub City Centre-Sec 34, Sec 22 and dividing road of Sec 35-34 | 4,47,300 | 4,47,500Agri land 2 kanal & above (Rs per acre)Old | New1,39,75,500 to 3,22,27,700 | 1,97,12,000 to 4,61,66,900Agri land less than 2 kanal (Rs per acre)Old | New1,74,700 to 4,02,900 | 1,75,300 to 5,77,100Value of constructed / covered area Urban Area (Rs per sq ft)Duration of construction | Old | NewLess than 10 years old | 2000 | 2000More than 10 years old | 1000 | 1000 MSID:: 129782027 413 |