Real estate market starts to pick up steam in the Ludhiana area: The Tribune India



Nitin Jain

Tribune News Service

Ludhiana, August 24

The real estate market began to pick up steam in Ludhiana, the largest area in the state in terms of area and population, as measured by revenue collection.

The administration confirmed that the district collected 24 percent of revenues in the first quarter of this fiscal year, a key indicator of market trend.

Development is gaining momentum as the real estate market suffered a severe downturn due to the second wave of Covid, which caused Ludhiana the greatest losses in terms of deaths and infections.

Official figures compiled by the district administration and available from The Tribune showed that a stamp duty of Rs 93.53.50 241 was collected for filing 18,176 documents in the district from April 1 to June 30.

Sharing details, Deputy Commissioner Varinder Kumar Sharma told The Tribune on Tuesday that the county has set Rs 400 crore as a stamp collection target for this fiscal year, up 5.54 percent from the previous fiscal target of Rs 379 crore.

In 2020-2021, the county could achieve the 85 percent target by collecting Rs 320.42,70,163 by registering 67,536 documents from April 1, 2020 to March 31, 2021.

The latest tax levy was Rs 3.71,69,405, which is 1.15%, which is less than the Rs 324.14,39,568 income received from the registration of 74,251 documents in 2019-2020.

Disclosing the District’s tax court management system, the District of Columbia reported that all 35 tax courts are currently operating in the district, with 4,013 cases currently uploaded to the portal. Referring to the National General Document Registration System (NGDRS), the Deputy Commissioner has demanded more Super-A online meeting places at sub-registrar offices throughout the county to better serve the public.

Raising the demand to Chief Secretary Vini Mahajan during the latter’s recent visit to Ludhiana, DC has proposed increasing the number of tatkal (emergency) meetings in Ludhiana (East) from the current 15 to 25, with a total number of appointments including the current 150 regular ones. , will increase from the current 165 to 175 appointments.

In Ludhiana (Central), it was proposed to increase regular appointments from 110 to 125 and tatkal from the current 7 to 10, bringing the total number of appointments from the current 117 to 135 appointments.

The proposal for Ludhiana (West) required an increase in regular appointments from the current 115 to 150 and tatkals from 7 to 25, bringing the total number of appointments from the current 122 to 175.

The chief secretary, summing up the results of the NGDRS in the district, assured that he will take into account the requirements put forward by DC in accordance with the rules and in the wider public interest.


Source link