The collector rates have been reduced up to 20 percent by UT Administration to meet the demands of various associations of traders, industrialists and property dealers.
A notification is issued for this. This is becomes the New Year gift for them.UT Finance Secretary Sarvjit Singh in August last year had asked Deputy Commissioner (DC) to revise the collector rates that are presently taken by Panchkula and Mohali, and think a reduction in the city rates. UT DC said all the category details should be available from tomorrow.
The collector rates were hiked up to 50 percent in the year of 2013 from the minimum rates. The Plot Owners Association Chairman Chander Verma said that everyone should welcome to this move. He said the genuine buyers so much affected by this hike and this will bring more genuine buyers in the market.
The available collector rate in Sector 17 is Rs 7,20,720 per sq yard.