Property prices set to rise in Kharar
As per the new collector rates, if you were paying Rs 7,000 per square yard, now you have to pay Rs 500 more
Apr 13, 2015
Source : The Times of India


MOHALI: Property prices in Kharar are set to rise, as the district administration has decided to hike collector rates. Colonies, societies, and villages which are approved by the municipal council of Kharar have witnessed price rise. As per the new collector rates, if you were paying Rs 7,000 per square yard, now you have to pay Rs 500 more.

Empty land has witnessed almost double hike, as the previous rate per acre near village Aojla was Rs 44 lakh and now you have to pay Rs 80 lakh for the same. And land in the same village besides the river bed is now priced at Rs 30 lakh, instead of Rs 15 lakh, which was the old rate. The residential plots - which were Rs 1.32 lakh per marla, are now Rs 1.48 lakh per marla.

Collector rate is basically the floor price on the basis of registration of the property. Sources in Kharar MC informed that the decision to increase the collector rate had been decided, and the proposal sent to the state government for approval. Last week, the collector rates in Mohali town had also increased. A hike in the collector rates in urban areas would directly affect the real estate business in Zirakpur, Kharar, Derabassi, Lalru, and Kurali, besides Mohali, where a lot of construction work is going on, said a property expert.

An administration official said that the amount of the collector rate always increased every year, by taking the mean average value of last year's registration of property. JP Singh, a property expert and president of the Market Association of Mohali, said: "Now, it is becoming difficult to find buyers these days, as there is already a property slump going on for the past couple of years."

So, for the time being, residents or property wishers should postpone their decision to buy property, which again is going to affect the real estate market.

Latest Realty News

Apr 12, 2015
New Delhi: CREDAI NCR, the NCR chapter of Confederation of Real Estate Developers Associations of India (CREDAI) elected the new leadership team
Apr 11, 2015
PUNE: The standing committee of Pune Municipal Corporation (PMC) approved a proposal to provide a discount in premium charges for buildings that follow eco-housing norms
Apr 11, 2015
NAGPUR: The BJP-led ruling alliance at the Nagpur Municipal Corporation (NMC) stayed the steep hike on various types of charges applicable for sanctioning the plans of building and layout/plots
Apr 11, 2015
New Delhi: National Green Tribunal (NGT) issued directions to the governments of Delhi, Haryana and UP to stop any construction in NCR, which violates its rules or 2010 guidelines of the MOEF
Apr 11, 2015
New Delhi: Arun Jaitley defined GIFT city as a “role model” for the development of future smart cities in India
Apr 11, 2015
HYDERABAD: Real estate developers have welcomed the Union Cabinet’s approval of the Real Estate Regulatory and Development Bill
Apr 11, 2015
New Delhi: Aadhar Housing Finance Limited (Aadhar) will expand its operations in four more states, including Maharashtra and Uttarakhand
Apr 11, 2015
Mumbai: Stable rate of new office space addition; occupiers increasingly opting for bespoke solutions and committing to under construction projects
Apr 11, 2015
NOIDA: For thousands of buyers who invested in housing projects in Noida Extension, the past five years have been full of trepidation
Apr 11, 2015
MUMBAI: The country's largest housing finance company HDFC Limited has brought down its lending rate by 20 basis points with effect from April 13

Latest Realty News Of State

Realty Talk's