Collector’s rates for Mohali are up by 43 per cent for residential and commercial properties and 150 per cent for industrial properties. The institutional sites meant for hospitals, institutes, educational institutions, including schools, colleges and clubs, will now be registered at a minimum of Rs 10,000 per square yard (Rs 2.5 lakh per marla), an increase of 25 per cent from the previous rate of Rs 8,000 per square yard (Rs 2 lakh per marla).
The exorbitant hike enforced from April 1 has come barely seven months after the previous increase made in September 2010.
While the rates for residential plots in Phase I-XI and Sector 66-71 have been increased from previous Rs 14,000 to Rs 20,000 per square yard (Rs 5 lakh per marla), that in Sector 76-80 has gone up from Rs 14,000 to Rs 18,000 per square yard (Rs 4.5 lakh per marla). Similarly, the rates in Sector 81 and onwards has been hiked from Rs 14,000 to Rs 16,000 per square yard (Rs 4 lakh per marla).
For the built-up residential properties, additional construction rates of Rs 650 per square feet for the construction less than 10 years old and Rs 500 per square feet for construction more than 10 years old will be added to the Collector’s rates. The commercial plots could now be registered at not less than Rs 1 lakh per square yard (Rs 25 lakh per marla), which was earlier fixed at Rs 70,000 per square yard (Rs 17.5 lakh per marla). The additional construction rates for commercial properties will be charged at par with that of residential properties.
For industrial plots, the Collector’s rates have gone up from Rs 6,500 to Rs 12,000 per square yard (Rs 3 lakh per marla) for sites up to 1 kanal while the sites of 1 kanal and above could now be registered at not less that Rs 10,000 per square yard (Rs 2.5 lakh per marla) instead of previous rate of Rs 4,000 per square yard (Rs 1 lakh per marla).
The additional construction cost for industrial sheds (RCC) will be calculated at Rs 350 per square feet and Rs 300 per square feet for kutcha shed covered with sheets.
Elsewhere, the Collector’s rates for agricultural, residential, commercial and industrial sites in rural areas have gone up from minimum 7 per cent in Landran village to maximum of 167 per cent in Lambian village, adjoining Sector 69 in Mohali. The revision in rates was felt after the land acquisition rates touched the sky with the landowners in even remote villages of Mohali getting a whopping Rs 1.5 crore per acre.
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