Chandigarh, June 6: In a significant move aimed at boosting state revenue, the Punjab government on Wednesday hiked development charges for real estate projects across the state by 50 to 100 per cent, with the steepest increase seen in the rapidly urbanising zones around Chandigarh, including Mohali, Zirakpur, Kharar and Dera Bassi.
According to the orders issued by the Principal Secretary, Housing and Urban Development, the revised charges will be applicable from April 1 to all new and extended projects, including those under the Punjab Apartment and Property Regulation Act-1995 and the Mega Project Policy.
For residential colonies in Mohali, promoters will now pay ₹1.28 crore per acre, up from ₹67 lakh. Similarly, group housing projects in the area will attract charges of ₹3.65 crore per acre, a sharp rise from ₹1.66 crore. Commercial project fees have surged from ₹2.50 crore to ₹4.60 crore per acre.
The state Cabinet had recently approved the rate hike following a real estate boom and rising land values. The revised structure includes increases in external development charges (EDC), change of land use (CLU) fees, licence fees, and other statutory levies.
Rates have also risen significantly in Ludhiana and Jalandhar by 52% to 65%, while towns like Sunam and Bathinda have seen increases ranging from 50% to 65%.
A senior official stated, “The new structure is in line with the pace of urban development and infrastructure demand. It ensures proportional contribution from the developers.”
However, the steep hike is expected to impact end-users, as property prices may rise, especially in areas where real estate demand is already high.
