Gurgaon Property News: NOW, PROPERTY DEALERS TO BE REGISTERED

In the recent state budget, the finance minister has made it mandatory for the property dealers of the city to get themselves registered with the local authority.

HARYANA budget also have good news for potential buyers for the first time state government has made it mandatory for the property dealers to get themselves registered with the local authority. “In the recent past, a distinct upward swing has become visible in the real estate and the housing sector. This is primarily because of the improved infrastructure facility provided by the government and the strategic location of the state. However, excess liquidity in this sector is causing concern and there is a likelihood of situation getting out of hand. Hence, some discipline needs to be infused in this sector. To start with I suggest that the person dealing with land properties should be compulsory registered with the local authority for which the state government is examining the possibility of bringing out comprehensive guidelines. We also propose to periodically revise the collector rates of land with a view to bridge the gap between the prevailing market rates and the actual rates at which the land transaction are being registered,” said the finance minister in his budget speech. 

By Dipak Kumar Dash