CHANDIGARH: Starting from April 1, purchasing property in the city will become more expensive, particularly for residential options.
The Chandigarh administration has raised collector rates across all categories, with the most significant increase occurring in the residential sector—up to 33% in plotted areas, up to 25% for housing board flats, and up to 15% for society flats.
Last year, there was a nearly 130% increase in collector rates for sectors 1 to 12, 96% for sectors 14 to 37, and 80% for sectors beyond 38. In the previous revision in April 2021, rates for commercial properties were reduced by 10%, industrial plots by 5%, while agricultural land rates were raised by 10%.
For 2024, the administration has adopted a new approach for calculating these rates, utilizing the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.
A draft of the updated collector rates has been released for public feedback, after which the revised rates will be officially notified. A committee of 10 members, led by the Deputy Commissioner, has been formed to oversee this calculation, comprising representatives from the estate office, UT revenue department, and architectural department.
The administration has designated April 1 of each year as the date for notifying new circle rates for Chandigarh to ensure regular updates to collector rates in the Union Territory.
