Circle Rates or Collector Rates
Incomes generated by the government bodies are primarily achieved by imposing taxes on different services provided by the government. Out of these sources of revenue generation, services provided in relation to properties are the most highlighted ones.
The land is considered a state subject in India, and therefore district administrators fix a standard rate for these lands, below which no transactions can be registered. The circle rates vary in different localities depending on the location of the property. The circle rate is addressed in different terms. In Punjab, the circle rate is termed district collector rates.
As a consequence of increased collector rates in Kharar in Mohali, a decision taken by the district administrator, the property prices of this place is also shown a steeper rise in the graph. This price rise was been witnessed by the societies, colonies and even by the approved villages of Kharar municipal council. According to the changed collector rates, the amount payable of rupees 7000 was hiked by rupees 500.
Effect of Collector Rate in Property Prices of Kharar
With the hike in collector rate, the empty lands in this city have witnessed a price rise at a doubling rate. The rate of land per acre in the village Aojla increased from rupees 44 lakhs to rupees 80 lakhs, the villages adjacent to the river also enjoyed a hike from rupees 15 lakhs to rupees 30 lakhs. Hence any property for sale in Kharar, Mohali had enjoyed this privilege.
Collector rate is actually a price capping applied on the registration of a property. With the increase in this rate, the business on real estate is also been accelerated. According to the experts, these effects are being noticed in different places along with Kharar like Zirakpur, Derabassi, Kurali and Lalru. But in the offset of various social and economical reasons, the price hike is making it difficult to find buyers.
Demand in Real Estate of Kharar, Mohali
Irrespective of all other factors, the demand for the real estate sector in Kharar, Mohali has always been increasing for both residential and commercial properties. It is considered a quite common site for investment in the real estate sector. The important reasons responsible are as follows-
In comparison to Mohali and Chandigarh, Kharar offers the best rates of property along with a wide range of choices that too at a reasonable rate. Therefore one can acquire a property for both residential purposes or investment purposes.
Kharar enjoys wonderful connectivity with several adjoined locations such as Ropar, Mohali, Chandigarh and many other. Hence Kharar enjoys the demand from the buyers who are employees in offices situated in these places.
The local and long route vehicles are very easily available in Kharar, at any time of the day. This is also an important reason for the demand of the real estate sector in this place.
For the buyers of properties in Kharar, the government approval of the plots and apartments provides a different level of satisfaction. This minimises the risk of cheating or ill practices of any kind. The papers and documents of the property also carry the highest authentication.
Mohali shelters the establishment of some renowned educational and academic institutions. This has accelerated other growth factors for urbanisation along with establishing international companies to grow in this region.
Kharar, Mohali serves as a great alternative to the people who prefers a quiet and serene area as a neighbourhood.
Considering Factors for Buying Property in Kharar
One should always go for the proof of the property where an apartment or a ready to move house is constructed, before finalising to buy a living space. The land should not possess any dispute, illegal ownership of any kind or any unauthorised entry. Going through these issues ensures zero threats and conflicts. The buyer should check all the purchase related legal documents for apartments in Kharar Mohali for authentication.
