Days after Punjab Government withdrew Land Pooling Policy, it seems like hike in Punjab Collector Rates have been put into abeyance for the time being. The government of Punjab had decided to hike collector rates in order to increase revenue.
As per reports, the Bhagwant Mann government had set a revenue target of Rs 7,000 crore from stamp and registration this year, which is more than Rs 5,750 crore last year. The areas in which there was a proposal to increase the collector rate also include Ludhiana and Bathinda.
However, as per Tribune, the decisions on proposals received from Deputy Commissioners of some districts for increase in the collector rates have been kept on hold for the time being.
Giving an example, it reported that the proposal sent by the Ludhiana administration to increase the rates by 25-40 percent is awaiting approval.
Furthermore, the rates have been increased by five percent in Bathinda but the approval for a further increase in some of the posh areas is awaiting approval from the Revenue Department.
On being asked, a senior official in the Jalandhar District Administration informed that there is no official confirmation has come into this as of now.
In the time, the government earlier has increased the collector rate by 5% to 50% in 12 districts- Fazilka, Barnala, Amritsar, Pathankot, Rupnagar, Nawanshahr, Sangrur, Moga, Kapurthala, Malerkotla, Jalandhar and Faridkot.
As per the report, the rates have been increased by 5- 60 percent in Amritsar. Within the city, the increase is nominal, varying from 5 to 30 percent, while it is higher in peripheral areas of the district. In Aerocity and DR Enclave, both located in the holy city’s periphery, there has been a 50-60 percent increase in the rates.
In Jalandhar, the revised collector rates covered three main categories- Residential properties, Commercial properties, and Agricultural land. The rates vary based on the property's location.
For example, whether it is situated on the main road or in an inner lane. Residential and commercial plots are measured in marla, while the agricultural land is measured in acres. As per the shared data by the District Administration, a hike of 10 to 40 percent in Jalandhar Collector Tax has been witnessed.
For example - Model Town- Rs 12.40 lakh per Marla, Model Town Commercial- Rs 20 lakh per Marla, New Jawahar Nagar (Residential)- Rs 8 lakh - Rs 10 lakh, New Jawahar Nagar (Commercial)- Rs 10- Rs 12 lakh, Shaheed Udham Singh Nagar (Residential)- Rs 8-10 lakh, Shaheed Udham Singh Nagar (Commercial)- Rs 12 to 12.70 lakh, etc.
The collector rates of land are decided by the district administration. These vary according to the market value of the land. The land price is the minimum rate at which a real estate property is sold to a buyer.
Earlier in Punjab, new property rates used to come into effect from the beginning of April, but since the COVID-19 period, there have been some changes. In some years, the rates were not increased at all. Any hike in collector rates has a direct and visible impact on the government’s revenue. The registry price is calculated accordingly.
