Collector Rates Reduced in Mohali by 10-15%

The people of Mohali got one more reason to be happy. This is because the Mohali administration has reduced the collector rates by 10-15%. The collector rates have been reduced on residential, commercial and industrial properties in Mohali. The new collector rates will be coming into force with immediate effect. The rates of agricultural land will not be changed.

Things You Need To Know About The New Collector Rates

A lot of changes have been made under the new collector rates scenario. The changes made are:

  • No changes have been made in the developing sectors which include Sector 85 to Sector 122.
  • Rs. 2000 per sq yd has been cut in the residential properties in certain sectors.
  • Rs. 1000 per sq yd has been reduced in the main old parts of the town.
  • Rs. 1500- Rs. 10000 per sq yd has been reduced in the commercial property.
  • Rs. 1500-Rs. 2000 per sq yd has been cut in the industrial area.

The Comparison Of Rates Now And Earlier

The rates of the residential sector:

  • Sector 60, Phase VII (Sector 61), 3B1, 3B2 and Sector 69 to Sector 71: Rs. 18000 (Highest Rates). The rates earlier in these sectors were Rs. 20,000 per sq yd.
  • Unchanged rates at Mohali Cooperative Society (Sector 68), Army flats (Sector 67, 68), Darshan Vihar (Sector 68), Ivory Tower (Sector 70), Pancham Society (Sector 68), Mundi Cooperative Society (Sector 70), Golden Towers (Sector 68), Multi-Tech Towers Group Housing-2 (Sectors 90, 91). The rates here earlier were Rs. 1600 per sq yd and still remains the same except the  Golden Towers where the rates have cut down from Rs. 1600 per sq yd to Rs. 1500 per sq yd.
  • Residential sector has the lowest rates (Rs. 9000).
  • No change in rates in Sector 122.
  • The commercial arena which includes Sectors 60, 61 and 70 have the highest rates (Rs 90,000 per sq yd.)
  • Sector 122 and The Bulk Material Market have the lowest rates (Rs. 20,000 per sq yd.)
  • Phase 1 to IX in the Industrial Area have the highest rates (Rs 9,000 per sq yd)
  • Industrial sectors including sector 66A, sector 82 and sector 83 have the lowest rates (Rs. 5,000 per sq yd)

Mohali’s Deputy Commissioner said that the rates have been cut down on the basis of the conditions on the ground. He said the new rates have been implemented after a proper study done by their expert team. The new rates will be implemented with immediate effect.

The former chairman of the Mohali Property Consultants’ Association said that the reduction of rates will definitely give some relief to the residents of Mohali and also to the real estate sector.

Source: The Tribune

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Tushar Pasrija is a digital marketer, public speaker and globetrotter who loves reading autobiographies and thrillers. He is passionate about wildlife and landscape photography. You may reach Tushar at hello@chandigarhmetro.com