Collector rates in Faridabad set to rise, real estate dealers object move

The registration cost for land and property in Faridabad is set to increase as the Revenue Department prepares to finalise revised collector rates. These new rates are expected to take effect next month following formal approval from the state government.

However, the move has sparked objections from the Real Estate Agents’ Welfare Association, which has demanded a proper period for raising objections and suggestions before implementation.

According to sources, the Revenue Department is in the final stages of preparing a revised format for collector rates, which will be applied across various city areas.

The proposed hike is reported to range between 15 per cent and 25 per cent in most localities, with sharper increases expected in high-growth potential areas. An official revealed that the last revision, implemented in April 2023, saw hikes between 4 per cent and 40 per cent, while rates in 2022 were increased by 20 per cent to 40 per cent. This marks the third consecutive year of such revisions in the district.

However, bypassing the formal process of seeking objections and suggestions from stakeholders has drawn sharp criticism from agents and dealers involved in property transactions.

“The sudden hike, without adequate notice, is unfair to those who have already finalised deals or agreements,” said Gurmeet Singh Deol, general secretary of the Faridabad Real Estate Agents’ Welfare Association. He emphasised the need for a 60-90 day notice period to prevent undue hardship.

Real estate consultant Rohtash Chahal warned that the increase would push property rates higher in both urban and rural areas. District Revenue Officer Sushil Kumar Sharma confirmed that the revised rates would come into effect on December 1. The association has vowed to oppose the hike unless stakeholders are given due consideration.