Buying property in Panchkula and Mohali has become more expensive with the hike in collector rates the rates at which the property is registered.
The collector rate has been hiked by around Rs 2,000 per square metre in Panchkula for residential property and around Rs 4,000 per square metre for Mohali.
For Panchkula,in sectors 6,7,8 and 9,the collector rate has been increased from Rs 48,000 to Rs 50,000 per square metre. This is the highest in the residential areas. In sectors 2,4,10 and 11,it has been enhanced from Rs 45,000 to Rs 47,000 per square metre. The rates in sectors 12,12 A,14,20 and 21 would be Rs 39,000 per square metre while in sectors 23,24,25 and 26,it would be Rs 36,000 per sq metre.
In Mohali for Phases 1 to 11,the increase has been from Rs 20,000 per sq metre to Rs 24,000 per sq metre. The same would be for sectors 66 to 71. In sectors 76 to 80,the increase would be from Rs 18,000 to Rs 22,000 per square metre. For commercial property,the rates increased from Rs 1 lakh per sq metre to Rs 1.2 lakh sq metre.
The that is already sluggish is likely to witness a further slump with the enhanced prices.