Property Dealers

Property owners hail revised coverage

The revised policy for regularisation of unauthorized or unlawful colonies notified through the Department of Housing and Urban Development, Punjab, on October 18, 2018, after a detailed session with all stakeholders, has long been passed down properly with builders and belongings holders.

The policy, which came into impact at the date of notification, will stay in force for four months —February 17, 2019. All unlicensed or illegal colonies advanced earlier than March 19, 2018, may be considered for regularisation after paying stipulated charges and submitting required documents.
Welcoming the coverage, Kultar Singh Jogi, president, Punjab Colonisers and Property Dealers’ Association, and GS Lamba, trendy secretary of the affiliation, have expressed gratitude to the country authorities for bringing in a realistic and developer-pleasant coverage to take care of unauthorized colonies within the nation.

They but introduced that the success of the revised policy would depend on its implementation in letter and spirit, failing which the coverage could also meet the same destiny of in advance policies added for this cause.

Jogi and Lamba hailed the selection of the Punjab Government to waive the interest quantity of around Rs160 crore due in opposition to the pending packages for regularisation of colonies submitted using the developers below other regulations.

“The move will motivate the developers to finish the formalities, submit the specified documents and get their colonies regularised,” they said.

Outlining the salient functions of the policy, Lamba stated the colonies evolved before April 1, 2013, could be regularised regardless of the land use and different proposals of the Master Plan.

Also, he introduced that small colonies evolved in commercial zones of Master Plans might also be considered for regularisation.

The policy lays down that no colony advanced on public or panchayat land or in limited areas under the Defence Act or restrained regions, along with scheduled roads of countrywide highways, will be eligible for regularisation.

The programs for regularisation under the brand new policy will be made by the developer or the Resident Welfare Association of the colony.

To scrutinize applications for the regularisation of colonies, committees headed with the aid of the Chief Administrator, the Commissioner or the Deputy Director of Local Government, at the side of different officers, might be installed for the colonies located out of doors the municipal limits, within the city limits and inside the jurisdiction of municipal councils and Nagar Panchayats. Respectively.

The composition charge payable by the applicant developers has been constant at 0. Five in line with cent of the collector fee for colonies evolved before August 17, 2007, two in keeping with cent for settlements coming up among March 31, 2013, and August 17, 2007, even as the colonies evolved among April 1, 2013, and till cutoff date (March 18, 2018) would have to pay six in line with cent of the collector price.

Margie Willis

When I decided to start blogging about real estate, I knew this would be a long journey. I was right. As you can see, I've grown my blog over the years and now have many followers. The reason why I started blogging is that I wanted to share my passion for designing and decorating my own home. I want to help people with home improvement ideas, trends, and inspiration.

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