Mohali admin hikes collector rates by up to 150%, major blow to property buyers
PTC Web Desk: In a significant development likely to impact property buyers, the Mohali district administration has once again increased collector rates across various subdivisions, including Kharar, Majri Block and Mohali. The revised rates have now come into immediate effect.
According to official information, the latest hike ranges between 25% and 150% in most cases, with certain areas witnessing even higher increases. The revision affects both residential and commercial properties across rural and urban zones.
In rural areas, the collector rate in village Rudki Kham has been increased by 122%, while Chandongi Gobindgarh has seen a 43% hike. The rates in Jakarmajra have gone up by 28%, Bahalpur by 122%, Bhagatmajra by 50%, and Palheri by an astonishing 150%.
For commercial properties under the Kharar tehsil, the rates for empty plots, shops, and booths have been revised from Rs 20,000 to Rs 30,000 per square yard. Along the Chandigarh–Ropar Road, approved project rates have gone up from Rs 30,000 to Rs 40,000 per square yard. Similarly, on the Kharar–Landran Road and Kharar–Ludhiana main road, the new rates for approved projects have been fixed at Rs 40,000 per square yard.
In rural belts, the collector rates have risen from Rs 7,000 to Rs 10,000 per square yard. Additionally, the rates for hospitals, schools and institutional properties under Kharar and Kurali municipal councils have also been increased.
Within Kharar Municipal Council limits, the rates for approved colonies and residential plots have been revised from Rs 10,000 to Rs 15,000 per square yard.
The substantial increase in collector rates is expected to raise the overall cost of property transactions in the district, affecting homebuyers, real estate developers, and investors alike.
- PTC NEWS
