Chandigarh: Failure to generate a good response to commercial leashold property auctions has encouraged the UT government to encourage important changes in regulations and regulations so that the auction in the future of commercial property is in Freehold that the Ministry of Home Affairs (MHA) has been barred so far.
UT Dharam PAL advisor has asked officials to install proposals about amendments to the rules to be taken with the center.
UT has been in recent years to witness that private players have not developed to buy land in Chandigarh for any project if it is based on leashold.
“No one will invest crores on a commercial property based on leashold.
The strict rules in Chandigarh are proven to be useful for Punjab and Haryana as a private player prefer to invest in Mohali or Panchkula.
In the past there are several commands in UT and then at the MHA level that limits UT From selling commercial properties based on Freehold, “said a senior UT official.
Similarly, administration also took issues of conversion of rental property to freehold in commercial areas and industrial estates, phase I and II, with the Interior Ministry officials.
UT advisors recently met Ministry officials and discussed this issue.
Recently, administration even wrote a letter to the ministry to provide an inprinciple nod to convert the properties of infrastructure to freehold.
Last year.
Before the Lockown Coronavirus was enforced, this problem was also discussed in a meeting between UT officials and members of the Chandigarh Industry Advisor Committee.