Floor-wise sale, purchase of commercial property allowed in Haryana

Haryana Economy

In a decision to spice up recession-hit realty sector and net more revenue for the state exchequer, the state BJP-JJP government has allowed floor-wise sale and purchase of commercial property across the state.
However, the registration of commercial property, including shop-cum-office, shop-cum-flats and double storey shops, would only be possible after the payment of administrative charges ranging from Rs 20,000 to Rs 1.5 lakh.
Besides, one-time 1 per cent stamp duty would be levied on property transactions.
The decision will prove to be a game-changer for the recession-hit realty sector as more property transactions will mean more revenue for the state exchequer.
Under the policy, cities have been divided under six categories for levying administrative charges.
While the Gurugram-Manesar urban complex comes under the hyper category, Faridabad-Ballabhgarh urban complex and Sohna fall under the high-I category. Panchkula, Sonepat-Kundli and Panipat form part of the high-II category.
Bhiwani, Fatehabad, Jind, Kaithal, Mahendragarh, Narnaul, Sirsa and Jhajjar come under the low-I category, while Gharaunda, Hansi, Assandh, Indri, Naraingarh, Narwana, Nilokheri, Ratia, Shahbad, Tohana and Talwandi Rana come under the low-II category. The rest of Haryana comes under the medium category.