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Saturday, 20 February 2021

Floor-wise sale, purchase of commercial property allowed

Pradeep Sharma
Tribune News Service
Chandigarh, February 19

In a decision to spice up recession-hit realty sector and net more revenue for the state exchequer, the state BJP-JJP government has allowed floor-wise sale and purchase of commercial property across the state.

However, the registration of commercial property, including shop-cum-office, shop-cum-flats and double storey shops, would only be possible after the payment of administrative charges ranging from Rs 20,000 to Rs 1.5 lakh. Besides, one-time 1 per cent stamp duty would be levied on property transactions.

Earlier, administration charges of Rs 10,000 were levied on commercial property transactions, which have now been steeply revised according to the six categories across the state. At present, there are three stamp duty slabs for property transaction —5 per cent (for women), 6 per cent (for joint property owners) and 7 per cent (for men).

"The decision will prove to be a game-changer for the recession-hit realty sector as more property transactions will mean more revenue for the state exchequer," said Suresh Aggarwal, president of the Haryana State Property Dealers' Welfare Association.

Aggarwal, through Speaker Gian Chand Gupta, has been instrumental in shooting off several representations to Chief Minister Manohar Lal Khattar for starting independent floor registries for commercial property.

Under the policy, cities have been divided under six categories for levying administrative charges. While the Gurugram-Manesar urban complex comes under the hyper category, Faridabad-Ballabhgarh urban complex and Sohna fall under the high-I category. Panchkula, Sonepat-Kundli and Panipat form part of the high-II category.

Bhiwani, Fatehabad, Jind, Kaithal, Mahendragarh, Narnaul, Sirsa and Jhajjar come under the low-I category, while Gharaunda , Hansi, Assandh, Indri, Naraingarh, Narwana, Nilokheri, Ratia, Shahbad, Tohana and Talwandi Rana come under the low-II category. The rest of Haryana comes under the medium category.

Meanwhile, administrative charges in case of shop-cum-office would be the lowest (Rs 50,000) for the low-II category, while the highest would be Rs 1.5 lakh for the hyper category. For shop-cum-flats, the lowest charges would be Rs 40,000 (low-II) and the highest Rs 1 lakh (hyper category). For double storey shops, the lowest charges are 20,000, while the highest are Rs 75,000.



from The Tribune https://ift.tt/3ucJgJc

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