The decision was taken during a Cabinet meeting chaired by Chief Minister Parkash Singh Badal here, an official spokesman said.
The Cabinet decided to give two months to those allottees who have paid instalments for their properties, but could not get the conveyance deeds registered.
Taking a "considerate and sympathetic view", the Cabinet decided to give the "last chance" to such allottees to get the conveyance deeds registered within two months from the date of notification of this decision failing which such properties would be registered at the prevalent collector rates.
"This has been done to enhance the salary/pension, allowances, ex-gratia grants and other perks of Chief Minister, Speaker and Deputy Speaker Punjab Vidhan Sabha, Ministers including Deputy Chief Minister and Leader of Opposition, Chief Parliamentary Secretaries and MLAs/ ex-MLAs," he said.
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As per the decision, the salary of Speaker and Deputy Speaker Punjab Vidhan Sabha would be enhanced from existing Rs 30,000 to Rs 50,000.
The Chief Minister's salary has been hiked from Rs 50,000 to Rs 1 lakh and that of Ministers including Deputy Chief Minister and Leader of the Opposition from Rs 30,000 to Rs 50,000 besides the salary of Chief Parliamentary Secretaries would be Rs 40,000 against the existing Rs 20,000.
The salary/pension of MLAs/ex-MLAs too have been revised from Rs 15,000 to Rs 25,000.