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This is an archive article published on August 23, 2009

Another bounty for property owners in Punjab

Bestowing another favour upon property owners,the Punjab government has allowed the holders of immovable property...

Bestowing another favour upon property owners,the Punjab government has allowed the holders of immovable property,re-allotted through transfer by the government or semi-government organizations,to get the conveyance deed registered at the original allotment price.

The decision,announced by Chief Minister Parkash Singh Badal on Friday evening,will benefit lakhs of property owners in Punjab.

Earlier,this amnesty was provided only to the original allottees.

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On Friday,a delegation of the Joint Action Committee of all residents’ welfare associations of Mohali got the CM to agree to their terms at a meeting in Chandigarh. Consequently,the CM asked the Financial Commissioner (Revenue) to bring a detailed agenda in this regard for formal approval at the next meeting of the Council of Ministers.

“All the re-allottees will be considered on a par with the original allottees for the purpose of registration of conveyance deed at the allotment price,” announced Badal.

According to the announcement,the legal heirs of the deceased original allottees will be entitled to the benefits allowed to original allottees. The government has also decided to extend the same benefit for the transfer of immovable property by the original allottees to their legal heirs.

Furthermore,the last date for the registration of conveyance deeds at original allotment price has been extended from September 2 to December 31. This is the second extension granted to property owners since the benefit was first introduced. On May 28,the state government had extended the deadline till September 2,even though it caused heavy loss of revenue to the state exchequer.

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Friday’s meeting was attended by CM’s Principal Secretary Darbara Singh Guru,Financial Commissioner Revenue Romila Dubey,Secretary Revenue Jaspal Singh,GMADA Chief Administrator Vivek Partap Singh and Mohali D C Prabhjot Singh Mand.

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