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RERA

The Government of India has enacted the Real Estate (Regulation and Development) Act, 2016. Some sections of the Act were enforced with effect from 01/05/2016 and the rest of the Act came into force from 01/05/2017. Under the Act, all the States have to appoint a Real Estate Regulatory Authority to carry out the purposes of the Act.

See List of RERA Registered Real Estate Projects (Punjab)
See List of RERA Registered Real Estate Projects (Haryana)

Chandigarh Property News

The Tribune, Chandigarh

03 June 2018: Property registration: Pay Rs 5,000 for ‘tatkal’ booking

After feeding in the property details, the user can check the applicable collector rates, exemptions, etc, as prompted by the system. Every time, a login is initiated, an alert is sent on the registered mobile number. See Details

The Indian Express

30 May 2018: Chandigarh: UT administrator allows amalgamation of adjoining plots

A senior official of the UT Administration confirmed the approval has been given, but with some conditions such as the ownership of both the sites must be same. “Also, the development control norms will be of the larger plot. The development will be such that the overall architectural controls are maintained like that of the two plots,” said the official. See Details

The Economic Times

07 May 2018: Chandigarh: Houses having area of 1 kanal but no solar panel to get notices

Currently, the Central government has been providing 30% subsidy to the residents for installing the solar panels. “This is a good opportunity for the residents. We are hopeful that a good number of residents will show interest in the remaining days and apply for the same to use solar energy,” Kumar added. See Details

The Economic Times

01 May 2018: One year of RERA: Tardy implementation restricts gains

As RERA takes root — along with low interest rates, stable property prices and the government’s loan subsidy for affordable housing — its positive impact is already visible. There has been an eight per cent hike in housing demand in Q1, 2018, compared to Q4, 2017. Home sales registered a 33 per cent rise in the top nine cities during this period. In fact, housing sales exceeded new supply by five per cent during the last two years. See Details

Times of India: Chandigarh News

21 Apr 2018: Chandigarh – Freehold conversion steep rates kill demand

Residential properties in city were freely allowed to convert to freehold till April 2012, when the practice was discontinued. The decision to again allow conversion of leasehold residential properties to freehold was announced in August last year. All the hype, however, fizzled out soon after local MP Kirron Kher made the announcement on August 18, 2017 amidst much fanfare. See Details

Economic Times Realty

18 Apr 2018: Haryana to invest Rs 125 crore to construct over 700 flats in Panchkula

Haryana housing board is constructing three housing societies in Sector 31, Panchkula. The project will be completed by 2022 and a total of Rs 125 crore will be spent towards it, said housing board officials. See Details

Time of India: Chandigarh News

14 Apr 2018: Architects call for streamlining of self-certification procedure

Architects have urged the Chandigarh administration to simplify processes adopted for self-certification and conversion of shop-cum-flat to shop-cum-office. See Details

Time of India: Chandigarh News

13 Apr 2018: Soon, Pay Property Tax Online with OTP

Sources in the MC revealed that the hired private agency has already fed the data of all the residential and commercial properties separately See Details

Realty Myths

09 Apr 2018: The new paradigm shift in the real estate market has created a ‘Wait & Watch’ situation: Dr. Niranjan Hiranandani

The new paradigm which the Indian economy and real estate have faced, in terms of the new regulatory regime, created a ‘wait and watch’ situation which in turn, majorly impacted sales across India. The new regulatory regime seems to be positive in terms of enhancing buyer confidence, while the incentives and policy tweaks are directed only at the Affordable Housing segment. From the perspective of real estate as an industry, we would have preferred the incentives and policy tweaks to be applicable to all segments, and there is a psychological impact on the real estate development community which works across price segments and buyer categories. See Details

Times of India: Chandigarh News

06 Apr 2018: Commercial property tax hike: MC to issue a notice soon

CHANDIGARH: It is for the first time since the imposition of the property tax in 2004 that the charges of commercial property tax will be increased. Though the matter of increasing the commercial property tax system was brought up a number of times in the past 14 years in the general house meetings, the house did not give its consent. See Details

Economic Times Realty

31 Mar 2018: Fund-starved Chandigarh civic body has few takers for pricey commercial properties

CHANDIGARH: High reserve prices of the properties, leasehold nature of such properties and slump in the real estate market are being held as the key reasons behind the cold response from public in terms of showing interest in such properties. Since the collector rate of all the nature of properties of the city is higher than the neighbouring states, rates of these commercial properties have been set accordingly. See Details

Business Fortnight

20 Mar 2018: Stringent norms, extended lull seen weighing on realty sector

Transactions of distressed assets are happening in various avatars. There are developers who want to get out of the business and are engaging in distress asset sales. Then there are joint development, joint ventures and development management models where a larger developer steps in and takes over the marketing, sales and construction of a project from the existing firm, in return for a share in revenue or profit or a management fee. See Details

Hindustan Times

17 Feb 2018: Longest slowdown in history: Realty market stagnant in Chandigarh

CHANDIGARH: The buyer activity is mostly limited to the plotted developments, and in the resale market. The city doesn’t have a primary market. For new properties buyers have to move to the periphery. See Details

Times of India: Chandigarh News

30 Jan 2018: Dip in real estate prices in Tricity: Economic Survey

CHANDIGARH: Despite the real estate sector showing signs of improvement all over the country, the property prices in Chandigarh continue to tumble, reveals recently-released report of Economic Survey. See Details

Times of India: Chandigarh News

30 Jan 2018: Mohali as next big IT hub: Real-estate sector builds a good foundation for growth

Riding on the double-digit growth recorded last year, the district’s real-estate sector is expected to continue improving in 2018. See Details