Unveiling a road map for extending various benefits to the residents of the colonies, Urban Development Minister Arvinder Singh Lovely said the process for allowing property transaction in the settlements which came up in government land will be started soon.
Out of 895 colonies which were regularised yesterday, 312 settlements are on private land while 583 colonies came up on government land.
"Property transaction in 312 colonies which are on private land will be allowed within a month. We have already started the process for removing the hurdles. The residents will also be able to registrar the properties in their names," Singh said.
Residents of the colonies which are on government land will have to pay Rs 575 per square metre as land cost to the government besides penalties and development charges. The land cost for multi-storey buildings will be calculated as per number of floors, he said.
Lovely said penalties for a 100 yard plot will be 10 per cent of the existing circle rate of the respective areas while penalty for plot size between 100 yard and 250 yard will be 25 per cent of the circle rate.
For plot size above 250 yard, the penalty amount will be 50 per cent of the circle rate. The Minister said all the colonies, including those which came up on private land will have to pay Rs 200 per square metre as development charge to the government for providing various facilities like electricity, roads and sewer lines.
"Once the fees are paid by the colonies, we will start denotifying government land and allow sale and purchase as well as registration of properties in colonies which came up on government land," he said. MORE