Administration Revises Collector Rates

By 121 News

Chandigarh 02^nd January:- Chandigarh Administration has revised the Collector with effect from 02-01-2016 in accordance with prevailing market rates.

In response to the representations given by various organizations and keeping in view demand of residents of Chandigarh, the Collector rates have been revised, there was a demand that Collector rates were more than prevailing market rates in various pockets of U.T., Chandigarh like Industrial Area, Show Room on Madhya Marg, Sectors 17, 22, Sub City Centre-34 & dividing road 34/35 and at the same time, there was demand to rationalize the rates as per location of Sectors like in Northern and Old Sectors, prevailing market rate is at higher side than Southern newly developed Sectors. Further to bring more clarity in certain categories new words like Shop-cum-Flat (SCF), Shop-cum-Shop (SCS), Bay shop, other Flats (Co op Societies' Flats, etc.) have been added.

Keeping in view the demand of the citizens of Chandigarh, the general reduction in rates is likely to benefit people to the tune of Rs. 15-20 Crore but at the same time, due to this deduction, transactions would be more, which will ultimately generate more revenue for the Government.

The Collector rates have been reduced in Industrial Area by 20% and in residential area upto 10% with creation of three new zones. Commercial property Collector's rates are also reduced by 10% in area of Sector 17, 22, Sub City Centre-34, Madhya Marg and dividing road of Sector 34/35, Chandigarh .It has decided by the Deputy Commissioner, U.T., Chandigarh that every year, the Collector rates will be revised on 31^st March.