Tag: Punjab

Latest StoriesRegulatory

Punjab Extends Taxpayer One-Time Settlement to May 31

CHANDIGARH: The Punjab government announced on Saturday a two-month extension for the One Time Settlement (OTS) scheme aimed at recovering outstanding dues, now extended to May 31, 2026, from the original March 31, 2026 deadline, according to finance minister Harpal Singh Cheema. Cheema mentioned that the taxation department has received 9,151 applications so far, resulting in a total revenue collection of ₹134.21 crore. The state government has already granted waivers amounting to ₹446.17 crore. “This extension offers a final chance for eligible taxpayers to settle their dues and achieve financial relief. The taxation department has also identified 8,000 properties belonging…

IndustryLatest Stories

Punjab govt. unveils industrial reforms, eases lease conversion rules

Representative AI image CHANDIGARH: The Punjab government has approved significant industrial reforms, including amendments to facilitate the conversion of leasehold industrial plots and sheds into freehold status, as announced by Cabinet Minister Sanjeev Arora on Tuesday. Arora, responsible for industries, commerce, investment promotion, power, and local government portfolios, noted that the cabinet has also sanctioned the rationalization of post-allotment services for freehold plot holders. The reforms, developed through collaboration with industry stakeholders, are intended to enhance the ease of doing business and foster a transparent and investor-friendly industrial environment. The conversion fee has been set at 5%, with a full…

IndustryLatest Stories

Mohali Body Launches E-Auction for 42 Sites Worth ₹5,460 Crore

MOHALI: Punjab’s housing and urban development minister, Hardeep Singh Mundian, has announced a significant step in urban development with the Greater Mohali Area Development Authority (GMADA) set to auction 42 premium sites valued at Rs 5,460 crore through an online platform. The inaugural mega e-auction will take place from January 14 to February 11, 2026. The minister highlighted that this auction aligns with the Bhagwant Singh Mann government’s goal of stabilizing property prices, ensuring transparency, and fostering investor-friendly policies to attract homebuyers, entrepreneurs, and institutional stakeholders. The sites available include residential plots, shop-cum-offices (SCOs), mixed-use areas, collective housing plots, as…

IndustryLatest Stories

Punjab Slashes Reserve Prices by 22% for Gmada Properties

MOHALI: In a significant move to monetize stalled public assets and rekindle buyer interest, the Punjab government has sanctioned a notable reduction in the reserve prices for properties listed by the Greater Mohali Area Development Authority (Gmada) that have failed to attract buyers over the years. The new policy indicates an average drop of 22% in the reserve prices for these unsold properties, a change anticipated to generate revenues between Rs 5,000 crore and Rs 10,000 crore. The announcement, made by Finance Minister Harpal Singh Cheema, followed the establishment of a committee tasked with evaluating government-owned properties that remained unsold…

Latest StoriesResidential

Punjab government simplifies and secures housing society registration

CHANDIGARH: In a significant move to enhance property rights and resolve longstanding legal ambiguities, the Punjab government has rolled out substantial reforms aimed at benefiting residents of cooperative housing societies. Following the directives of Chief Minister Bhagwant Mann, who also oversees the Cooperation Department, the government has approved a comprehensive framework intended to streamline the registration process for cooperative housing properties, making it both affordable and legally secure, while ensuring proper recovery of stamp duty for the state. An official statement released on Tuesday indicated that the state has implemented extensive measures to formalize property transactions in cooperative housing societies,…

InfrastructureLatest Stories

Fears Over S+4 Rule: Ludhiana’s Density May Threaten Livability

LUDHIANA: The Punjab government’s newly implemented building regulations have ignited a heated debate in the city. While these reforms offer substantial density and parking concessions for property owners, urban planners and environmentalists caution that such changes may overwhelm the city’s aging infrastructure. These regulations signify a shift towards “vertical growth” and “commercial flexibility,” particularly in Ludhiana’s historic and densely populated areas. The new unified rules introduce several structural modifications aimed at modernizing the urban landscape. Builders are now allowed to utilize stilt parking (open parking at ground level) to facilitate residential living on upper floors. Additionally, basements can now be…

InfrastructureLatest Stories

Punjab eases rainwater harvesting rules; composting required

LUDHIANA: The newly established unified building regulations in Punjab are offering substantial benefits to residential property owners by significantly increasing the size threshold for compulsory rainwater harvesting systems. On-site composting of kitchen and garden waste is now a requirement for all plots measuring 500 sqm or larger. Under the revised rules, only residential houses exceeding 250 sqm must implement rainwater harvesting systems, up from the previous threshold of 100 sqm. In contrast, the commercial and industrial sectors will face stricter regulations, with a maintained threshold of 100 sqm to address the area’s diminishing water table. Addressing the Water Crisis As…

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Punjab Governor Reviews Key Land and Housing Projects

CHANDIGARH: On Sunday, Punjab Governor and UT Administrator Gulab Chand Kataria visited several project sites in the UT, assessing major housing initiatives, development projects, bulk material locations, and group housing areas. Sites Inspected The governor inspected various locations, including the IT Habitat project in IT Park, Manimajra (pocket 6), Sanjay Colony in Industrial Area Phase-I, the government housing site in Sector 43, and the Chandigarh Housing Board project site in Sector 53. Particular attention was paid to the 70-acre mixed-use development at the Sub-City Centre and the reclaimed Furniture Market land in Sector 54 to ensure proper zoning and future-oriented…

IndustryLatest Stories

Builders unhappy with Punjab property law changes, citing sales slowdown

BATHINDA: Promoters of housing projects in Punjab are expressing discontent over a recently issued notification under the Punjab Apartment and Property Regulation Act (PAPRA), 1995. They argue that the new regulations will hinder development efforts, consequently affecting the state’s revenue from property transactions. This notification seeks to enhance transparency by prohibiting the partial acquisition of land for projects before development begins. It also imposes strict regulations regarding the collection of external development charges. Prospective buyers, in contrast to realtors, believe that these changes offer them greater choice and transparency, safeguarding them from being overcharged and decreasing price volatility in plot…

Latest StoriesResidential

Khanauri Distributes ₹2.5 Cr Pucca House Approval Letters

SANGRUR: On Thursday, Cabinet Minister Barinder Kumar Goyal distributed approval letters totaling Rs 2.55 crore to 102 beneficiaries under the Pradhan Mantri Awas Yojana (PMAY) in Khanauri. He also announced that an additional Rs 97.5 lakh would be allocated for 39 more beneficiaries shortly. Goyal highlighted that the Punjab government, under Chief Minister Bhagwant Mann, is dedicated to comprehensive state development through strategic financial management and specific initiatives aimed at realizing the vision of a ‘Rangla Punjab,’ ensuring equitable growth for all communities. He mentioned that development projects worth Rs 5 crore are set to begin soon in Khanauri, including…