In India the lion’s share of this industry is working in a non-organized and scattered way. But Indian real estate industry is increasingly stepping into line in working with international standards. Within last two decade there is a boom in real estate sector in a progressive way. The positive outlook of Indian government is the key factor behind the drastic rise of the Indian real estate sector which is now the second largest employer after agriculture in India. Indian Government maintains various regulations to keep this industry updated with lustrous standards and to facilitate investments. Chandigarh which has been rated as ‘the wealthiest town’ of India, has also made the real estate scenario quiet upbeat. In 2013 this sector has suffered stagnation with slow transaction as buyers there were waiting for the prices to bottom out to get best apartments in Zirakpur and nearby surroundings and sellers kept holding on to their assets. Thus the volume of transactions was dreadfully low last year. But in the present year, in 2014 the dark clouds of stagnation is going thin and the movement in this sector has sprang up again. Different professional real estate agencies are giving their expertise and quality products like amazing flats in zirakpur, residential apartments, various property in Punjab and many other attractive properties to achieve the goals in real estate sector and to make Chandigarh tri-city one of the most favorable business destination. In the world of Chandigarh real estate industry, Maya Estatz has become an important name. In Punjab, Chandigarh and Zirakpur real estate sector, it has established its dominance. In a period of mere two decades Maya Garden, Zirakpur has earned astounding credibility. It deals in 1/2/3/4/5/6 BHK apartments as well as penthouses. It deals in residential as well as commercial apartments projects. Till date Maya Garden, Zirakpur has presented different projects as flats in zirakpur, residential apartments, and various property in Zirakpur, property in Punjab, various real estate apartments and accomplished many property in Chandigarh. Costumers’ reliance has increased after successful and on time delivery of best apartments in Zirakpur i.e. Maya Garden Phase 2 and Phase 3. Till date Maya Garden never deals a blow to the customers believe and to the quality materials. Customer’s satisfaction in different dealings is the prime achievement for the builders here. New and existing patronage may connect to the website to get authentic Maya Garden news, and for latest and best apartments in Zirakpur, Chandigarh and nearby places. See More : Maya Garden City
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Owning a property in Chandigarh has become a costly affair as the collector rate and the fee for getting building plan approved has been hiked by the authorities. A common man who is thinking of owning a small residential house in this region is hit badly by the hiked collector rates. Imagine, before April 1st, 2011, owning a small six Marla (150 sq yards) plot could be accomplished with the payment of Rs 75,000 (as collector rates) as compared to Rs 1,35,000 today for the same. The buyer will have to also pay Rs 45,000 for getting approval for building plan. The information about the hike is drafted on the basis of categories focused on location, for example the location of the property in concern is on the main road, on the link road, their placement in the municipal limit of Zirakpur etc. Registration rates for the land on the main road have been increased from Rs 1 cr to Rs 3.5 cr per acre. Similarly, the land rates have been fixed at Rs 1.5-2 cr per acre for the inner parts of property in Zirakpur. Collector Rates Zirakpur Property Locations Previous NEW Main Road ( Per acre) Rs 1 cr 3.5 cr Agricultural Land in Inner parts ( per acre) Rs 1.5 cr Rs 1.5-2 cr Commercial Property ( per sq yard) Rs 9,000 Rs 18,000 Residential plots in named colony ( per sq yard) Rs 5,000 Rs 9,000 Independent residential plots ( per sq yard) Rs 4,500 Rs 8,000 Building Map Fees Residential Plot Size Previous NEW 50-125 sq yards Rs 80 Rs 323 flat rate for all sizes 250 sq yards Rs 213 Commercial plots All sizes Rs 350 RS 2,815 For commercial properties the rates have been increased from Rs 9000 to Rs 18,000 per sq yard. The rates in approved residential colonies have been increased to Rs 9000 from Rs 5000 and for residential sites without any name of the colony; the rate has been fixed at Rs 8,000 per sq yard.
The tax on commercial property in Chandigarh may be increased in near future. The issue is to be taken up at the meeting of the House Tax committee to be held in the coming days and the extent of the increase would be decided after a discussion at the meeting. Property tax on commercial property was imposed in2004 after initial resistance from the Municipal Corporation. There have been suggestions to conduct a survey before proposed increase in tax rates. The agenda for increasing tax on commercial property was brought up for discussion in the previous meetings of the committee as well but had been opposed by the councilors of various parties.
The Zirakpur Municipal Corporation was directed not to sanction for construction of illegal colonies in the area by the Punjab and Haryana High Court. Counsel for Zirakpur MC stated that the plans for unauthorised colonies were being sanctioned as directed by the Punjab government. However, HC puts stop on any further construction of unauthorized colonies in Zirakpur. As per a petition filed by a widow whose husband had died of electrocution after water had entered their house due to the non-effective sewage system, the corporation claimed that necessary steps have been taken to ensure that there is no more water logging in Zirakpur. The Court had observed that there appears to be a situation of chaos and danger to the health of residents of Zirakpur, due to poor infrastructure in Zirakpur.
Zirakpur, the hot spot of the real estate sector in the Chandigarh periphery, has touched a new high in property prices with the Collector’s rates for registration of property in this satellite township of the Punjab capital going up to an all-time high. The increase is up and above the maximum of 150 per cent hike affected in the Collector’s rates for commercial property in Mohali, where rates for residential and commercial sites had gone up by 43 per cent and 24 per cent respectively for institutional sites from April 1. The rates vary from area to area as they are fixed separately for every tehsil component. Leaving behind the previous benchmark of Rs 1.5 crore per acre, at which the state government had till now acquired most of the land for the upcoming international airport and other mega-development projects in the Greater Mohali area since 2008, the minimum rate for registration of agricultural land in Zirakpur hot spots has been fixed at Rs 3.5 crore per acre. With the hike of up to 233 per cent in the Collector’s rates for the current fiscal year which began on Friday, the minimum rates for registration of agricultural land in several parts of Zirakpur has been fixed between Rs 1.5 crore and Rs 3.5 crore. In marlas, the highest rate in Zirakpur stand at Rs 2,18,750 per marla whereas in Mohali, the per marla rate for commercial sites has been fixed at Rs 25 lakh, Rs 4-5 lakh for residential, Rs 2.5-3 lakh for industrial, and Rs 2.5 lakh for institutional sites. The rates for residential and commercial sites in group housing societies and shopping malls at Zirakpur range between Rs 2.25 lakh and Rs 11.25 lakh per marla. The new rates, which are bound to put an extra burden on buyers of property, have been fixed by Mohali District Collector Parveen Kumar in view of the skyrocketing real estate prices in the open market. The new Collector’s rates have come into force with immediate effect, evoking strong reactions from the common man. In different parts of Zirakpur that are deemed to be real estate sector hot spots, the increase in Collector’s rate ranged between 100 and 200 per cent, meaning the rates effective till March 31 have been doubled and even gone up three times. Surprisingly, the Collector’s rates for registration of the much sought-after and costly flats in Zirakpur have remained untouched, raising many eyebrows. “Since the rates for registration of flats were already in consonance with the prevailing market price, no hike was felt in them,” reasoned a district official. As per the new Collector’s rates list, a copy of which is with Newsline, the maximum hike of 233 per cent has been affected at Kishanpura Main Road where the rate has gone up from Rs 60 lakh to Rs 2 crore per acre. The main road areas where the property registration rates have got a new benchmark of Rs 3.5 crore per acre are Zirakpur, Himmatgarh, Bishanpura, Peer Machhalla, Bhabat, Baltana, Bishangarh, Beer Peer Machh and Dhakoli. However, agricultural land rates in the inner parts of these areas have been fixed at Rs 2 crore per acre. The rates for registration of flats, apartments and commercial sites in various group housing societies and shopping malls remained the same between Rs 1,000 and Rs 5,000 per square feet. Panchkula registration rates up 200%:
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Barnala Builders, the name synonymous with quality, trust and satisfaction, are known for their deep sense of architectural designing and planning. Their various projects in Chandigarh, Mohali, Panchkula and Punjab like Maya Garden in Zirakpur speaking of their 15 years experience stand testimony to their ability to create masterpieces. Read More