Cost of property registration is set to go up in Chandigarh. The UT estate office has begun finalizing a plan to hike collector's rate. A 20 per cent rise in the rate is being contemplated. With the collector's rate a benchmark for sale and purchase of property, the hike would boost property rates, besides resulting in more revenue for the UT by way of stamp duty. Spadework has been undertaken by a committee constituted in this connection. A final report will be submitted in the last week of May before it is forwarded to the finance department for approval. 'Real estate prices in Chandigarh are already very high and a break in annual revision of the index leads to revenue loss to the state exchequer,' said an official. May 11th 2011, realtyplusmag
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