S.A.S. Nagar-Senior Congress leader and former Health Minister of Punjab, Balbir Singh Sidhu, has termed the Punjab Government’s decision to increase collector rates for land and property registrations as anti-people, saying that this move will negatively affect the state’s economy by slowing down the real estate sector as well as other businesses.In a press statement issued here today, Sidhu said that collector rates in Mohali district have been increased by 20 to 32 percent, with some areas witnessing as high as a 32% rise. He pointed out that the registration cost for a one-kanal plot in Mohali city, which earlier stood at ₹18 lakh, will now cost ₹22 lakh. In the Kharar area, the rates that were earlier ₹10,000–₹15,000 have now been raised to ₹23,000.
Sidhu further said that the rates for “add-rehin” (mortgage) registrations, which are done as collateral for bank loans, have also been increased. For example, to secure a ₹50 lakh loan, the registration cost has gone up from ₹6,000 to ₹34,000. Similarly, the fee for obtaining a tatkal (urgent) registration appointment has doubled from ₹5,000 to ₹10,000.
The former Health Minister stated that the government’s repeated increases in these rates clearly indicate that the Aam Aadmi Party government’s revenue has fallen so drastically that it now needs to take loans even for meeting its monthly expenses — a result of corruption, tax evasion, and flawed economic policies. He said that by continuously hiking collector rates for land and property, the government is attempting to patch up Punjab’s deteriorating financial condition, but this will instead further harm the state’s economy.
Sidhu added that this decision will adversely impact real estate, construction, industry, and trade, as both land and credit have become more expensive. He warned that in such an environment, no businessperson or industrialist would be willing to start new ventures in Punjab.