FICO urges Punjab government to reopen property registries within Ludhiana Municipal Corporation limits, frustrated by mandatory NOCs from GLADA, Improvement Trust, and MC that delay transactions. They propose collecting development charges at building map approval to cut red tape, prevent harassment, and boost ease of doing business for residents and industries.
Punjab's doubling of real estate development charges under new regulations dashes profit margins for builders and homebuyers in Ludhiana, Mohali, and Zirakpur amid urban expansion. Effective April 2025, the 50-120% increases impact residential, group housing, and commercial projects, escalating costs during real estate boom.
Punjab raises External Development Charges (EDC) by up to 100% for new projects starting April 2025. The move targets booming areas like Mohali, Jalandhar, and Ludhiana to boost state revenue amid a real estate surge.
Nashik Municipal Corporation triples development charges to Rs 350 per sq m starting April 2025, marking the first hike in 15 years, aiming to fund infrastructure projects and Kumbh Mela 2026-27 while developers anticipate rising housing costs.
Apartment buyers face additional burden with service tax on under-construction residential projects, developers demand buyers to pay.
The Pune Municipal Corporation has announced a 50% reduction in premium charges for small housing units under 50 square meters.