Chandigarh: Rules may change to auction commercial units on freehold

CHANDIGARH: Failure to evoke a good response for the auction of commercial leasehold properties has prompted the UT administration to push for making important changes in rules and regulations so that future auctions of commercial properties be on freehold that the ministry of home affairs (MHA) has barred so far.
UT adviser Dharam Pal has asked officials to put up a proposal on amendment of rules that would be take up with the Centre.
The UT has in recent years witnessed that private players have not come forward for purchasing land in Chandigarh for any project if it was on leasehold basis.
“Nobody will invest crores on commercial properties on leasehold basis. The stringent rules in Chandigarh are proving beneficial for Punjab and Haryana as private players prefer to invest in Mohali or Panchkula. In the past there were some orders at the UT and later at MHA level that restricted UT from selling commercial properties on freehold basis,” a senior UT official said.
Similarly, the administration was also taking up the matter of conversion of leasehold properties into freehold in commercial area and Industrial Area, phases I and II, with officials of the ministry of home affairs.
The UT adviser had recently met ministry officials and discussed the issue. Recently, the administration had even written a letter to the ministry for giving inprinciple nod for conversion of leasehold properties into freehold.
Last year. before the coronavirus lockdown was enforced, the matter was also discussed in the meeting between UT officials and members of Industrial Advisory Committee of Chandigarh.