1. Indian real estate news

Chandigarh: Industrialists meet UT Administrator on converting leasehold properties to freehold

The industrial and business owners’ groups in Chandigarh has been requesting for the right to own properties so that they can design the spaces for expansion by getting loans from the banks. 

As reported in a story by The Indian Express (source), A representative group of the industrialists and business persons visited and met UT Administrator, Banwarilal Purohit on Friday, 17 September, and urged them to take an early decision on the issue of converting lease-hold industrial and commercial units to freehold in Chandigarh.

Read related story: Leasehold properties hold back the Chandigarh commercial real estate growth.

In the recent years, there is an increasing demand by local industrialists and business persons to make the commercial and industrial properties freehold so that the owners can enjoy complete ownership rights. At present these are owned by the agencies such as Chandigarh Estate Office.

There have been sections who oppose this move for their own reasons. They fear that the giving ownership rights for floors in such buildings means that Chandigarh might lose its unique architecture.

Comments to: Chandigarh: Industrialists meet UT Administrator on converting leasehold properties to freehold

Your email address will not be published. Required fields are marked *

Attach images - Only PNG, JPG, JPEG and GIF are supported.

Contact 9814210011, 9855063463, [email protected]

Join us today!

Join us for real estate industry updates, news, new projects, trends, reports, and new property updates.

Contributing authors

Inviting contributor author for Tick Property: If you want to write for Tick Property, please write to us at [email protected] with the details—your name, email ID, and your current organization (or business name if self-employed).

The Tick Property Newspaper

We publish a daily newspaper for a quick reference to real estate news, insights, and reports: See the Tick Property Newspaper

Good Reads

As the consumer products are becoming technology driven whether for connected devices at home, the voice technology, using integrated apps for house maintenance, it clearly impacts how you select a new home to buy in Mohali and Zirakpur. Whether you are looking for app enabled security system, the power consumption patterns, or the air quality […]

Worlwide

There are no matching posts for this section.

Trending

This post is taken from Forbes India (source). In the commercial property trends in India in the recent years, the new-generation technology parks have emerged particularly in high-potential and high-rewarding cities including in Bengaluru, Hyderabad, Mumbai, Delhi and Pune. Chandigarh and Kolkata are now attracting investments too. This, according to Nasscom, has been due to […]