Land in Punjab Government’s upcoming flagship township Mullanpur, adjoining the PGI in Chandigarh, is costlier than in Le Corbusier’s architectural marvel. Seems strange, but it is true.
With investors and realtors making a beeline to buy agricultural land at and aroundMullanpur, on the north-west periphery of Chandigarh, Punjab’s revenue authorities have increased the collector rates at many villages by an astronomical 700 per cent. This means that those buying land there will have to pay more stamp duty. Officials have noticed the phenomenal rise in prices of land, which are almost Rs 3 crore per acre.
The collector rate of agriculture land at UT villages, last revised in August 2011, is Rs 70 lakh per acre. The collector rate at Naya Gaon and Mullanpur has been raised to Rs 90 lakh per acre.
Massive urbanisation at villages in Punjab, with control not as strict as at UT villages, is said to be one of the main reasons for the increase in land prices.
The rate has been increased at villages at and around Mullanpur, where a number of housing projects are coming up. The state government is trying for the early opening of the Medicity. “After going through land transactions registered with the sub-registrar at Majri, the collector rate has been increased phenomenally,” a senior official with the revenue department has said.
“In the parlance of land along the Mullanpur-Siswan road, the collector rate has been fixed at Rs 1 crore per acre,” he has added.
In the last three years, receipts from stamp duty and land registration in the Mohali district has been the highest in Punjab.
It is Rs 237.86 crore for 2008-09, Rs 215.95 crore for 2009-10 and Rs 438.37 crore for 2010-11. Villages at Majri and Dera Bassi blocks have generated the maximum revenue.
Officials have revealed that the maximum hike has been affected at Mastgarh, Togan, Dhanaura, Teor, Boothgarh, Bharongian, Hoshiarpur, Majra, Ferozepore Bangar and Nada villages.
The collector rate has been revised at Perch, Seonk, Nagal and Siswan villages as there is an increasing craze among investors to purchase land for farmhouses in the forest area.