Panchkula, March 29: The Haryana government has declared a substantial increase in collector rates across the state, with some sectors witnessing a jump of 75 percent. Scheduled to go into effect on April 1, the move is expected to increase the financial burden on buyers looking to register residential, industrial, or commercial land.
The collector rate, which acts as the official benchmark for property transactions, was previously revised twice within the last eighteen months. This third installment of hikes continues a trend of upward valuation following the 2024 state polls.
In Panchkula, the draft collector rates show a dramatic rise for Shop-cum-Flats in several major sectors, including 4, 6, 10, and 15. Prices in these zones have moved from Rs 3.6 lakh to Rs 6.3 lakh per square meter.
“The collector rate is the price fixed by the government below which a property cannot be registered,” officials noted, adding that the figures vary significantly depending on the specific tehsil and category of the plot.
The residential sector in Kalka and Pinjore is also seeing a surge. In the Trident Hills development, plot rates are rising by up to 30 percent, while certain floor-wise rates in Amravati have been jacked up by 75 percent. For example, first-floor rates in these areas are moving from Rs 3,775 to Rs 6,606 per square foot.
Industry experts asserted that while the move may increase state revenue, it will likely cool the immediate demand for new registrations. Government representatives maintained that the revision is part of a broader effort to standardize property values and reduce the gap between market rates and official circle rates.
