Collector rates to be reduced by 15% – Punjab Govt

The Punjab government has decided to decrease collector rates by 15 per cent as directed by Chief Minister Parkash Singh Badal. It will provide a relief to property buyers in the state & would rejuvenate real estate and housing sectors Bikram Singh Majithia Revenue minister said,that all the Deputy Commissioners have been directed to convene a meeting with all stakeholders to undertake necessary steps for revising these rates at 15 per cent. He also asked them to publish new collector rates on official website besides putting on notice boards in Sub-Registrar offices thereby giving wide publicity. Under Rule 3-A of the Punjab Stamp (Dealing of under Valued Instruments) Rules, 1983, for registration of land, the right to fix collector rates every year is with the Deputy Commissioner concerned. Keeping in view the various aspects and location of land, the rates are fixed as per the advice of a committee comprising representatives of various departments.

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