Chandigarh administration urged to reduce collector rates
With prices of properties in Chandigarh falling in the past few years, property dealers of the city have urged the administration to reduce collector rates.
A representation in this regard has been given by traders and property dealers to the UT administration. As per the recently released National Housing Bank’s (NHB) RESIDEX (index of residential prices) report, Chandigarh was among the top tier-2 cities which have recorded a significant fall. Property dealers have held high collector rates as the main reasons for the fall in prices.
Collector rates in Chandigarh are considerably higher than the rates in Panchkula and Mohali. Collector rate is the lowest at which a property is registered. It is fixed by the administration and revised every year.