Chandigarh administration slashes collector rates by up to 20 per cent

The collector rates of commercial properties in sectors 17 and 22, at Sub-City Centre-34, on Madhya Marg and the dividing road of Sector 34/35, Chandigarh, have been reduced by 10 per cent. The collector rate of SCOs in Sector 17 has been slashed from Rs 7,20,720 per square yard to Rs 6,48,648 per square yard.
The collector rate of SCOs on Madhya Marg, and in sectors 34, 22, and 35 has been reduced from Rs 5,14,800 per square yard to Rs 4,63,320 square yard. The collector rate of vacant converted plots has been reduced from Rs 1,62,162 per square yard to Rs 1,50,000 per square yard.

Joshi has said that the collector rates will be revised on March 31 every year.

Residential areas divided into zones
In the residential areas, the rates have been slashed by up to 10 per cent with the creation of three zones— sectors 1 to 12 (zone I), sectors 14 to 37 (zone II) and Sector 38 onwards (zone III). The rates in zone I have not been changed while the rates in zones II and Zone II have been slashed by 5 per cent and 10 per cent, respectively.

Construction charges increased
For the urban areas, the charges have been increased from Rs 1,518 per square feet to Rs 1,600 per square feet for constructions less than 10 years old, while for constructions more than 10 years old, the rate has been enhanced from Rs 759 per square feet to Rs 800 per square feet.
In the rural areas, the rate has been increased from Rs 181 per square feet to Rs 200 per square feet in case of kacha houses while for RCC houses, the rate has been increased from Rs 333 per square feet to Rs 350 per square feet.

Reduction to
benefit admin: DC
Deputy Commissioner Joshi said that the reduction in collector rates was likely to benefit the administration as there would be more transactions, which will ultimately generate more revenue for the administration.

No auction since 2009
Due to a slump in the market, the UT estate office has not held auctions since December 2009. The last auction saw the average price for residential sites shoot up to Rs 74,820 per square yard, while prices for commercial sites went up to Rs 2.74 lakh per square yard. In 2010, the administration had planned an auction, but it was cancelled at the last moment.