Realty boom in Chandigarh

October 3, 2008	(Be the first to rate this story!)  Loading ...
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The real estate market is once again booming in the Chandigarh periphery, if the official figures of land registration deeds are any indication. The number of land registration deeds touched an all-time high in two years at 446 in July 2008, followed by 393 in August 2008, after plunging to as low as 163 in September 2007. The state Government earned Rs 88.38 crore as stamp duty and registration fee from the 8,324 land deeds between April 2006 and August 2008, in the Chandigarh periphery, falling under the jurisdiction of Majri sub-tehsil. At least 69 defaulters detected between August 2006 and March 2008, evaded Rs 62.62 lakh on account of stamp duty and registration fee.

Official records with News line reveal that revenue of Rs 7.51 crore was earned in July 2008, on account of Rs 7.32 crore stamp duty and Rs 18.45 lakh from registration fee. The second highest revenue of Rs 6.64 crore was earned in June 2008 from registration of 366 land deeds on account of Rs 6.5 crore stamp duty and Rs 14.25 lakh as registration fee. The recession in the real estate market last year, was evident from the lowest revenue of Rs 63.27 lakh recorded in October 2007 when 218 land deeds were registered. Though the land deeds could not be registered below the minimum rates of registration of land fixed by the Collector, who is also the Deputy Commissioner, but the high and mighty connive with the concerned tehsildars to get their land deeds registered as per their whims and fancies.

News Published Under:   Chandigarh |

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