Chandigarh, Jan 14: Residents of cooperative housing societies across Punjab can now register their properties with significantly reduced financial liabilities following a landmark decision by the state government. The move is intended to clear a massive backlog of unregistered properties that have left homeowners without clear legal standing for years.
“This initiative reflects the Government’s commitment to protecting the common citizen while ensuring lawful and orderly property transactions,” a representative from the Chief Minister’s Office directly said.
The reform package prioritizes original members of these societies, who are now eligible for a 100 percent stamp duty waiver. This allows them to obtain conveyance deeds by paying only a small registration fee. The Department of Revenue has clarified that this benefit applies to immediate family members and legal heirs as well, ensuring that the transfer of ancestral or family property remains seamless.
For secondary buyers who purchased units through transfers, the government has introduced a time-sensitive incentive program. Those who register their properties before the end of January 2026 will pay only 1 percent in stamp duty. The rate rises to 2 percent in February and 3 percent in March. Officials noted that these concessional rates are a one-time opportunity to legalize ownership at a fraction of the standard cost.
In addition to tax relief, the new policy tackles the problem of high transfer premiums. By setting a legal limit on what societies can charge for ownership transfers, the government aims to stop the practice of societies making “arbitrary demands” from residents.
“Many properties remained unregistered for years because the costs were prohibitive,” the CMO noted during the announcement. “These reforms make the process financially viable for the average family.”
The Punjab Government has directed local authorities to facilitate a smooth registration process for all eligible residents. By providing these incentives, the administration expects a surge in legal filings, which will provide homeowners with undisputed titles and help the state recover legitimate revenue through increased compliance.
