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Himachal Pradesh Government endorses the New Retention Policy for Buildings

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It is said by a source at the www.propertykhazana.com that the rental properties in Himachal Pradesh is likely to take a down turn with the Himachal Pradesh Government decided to endorse the Maintenance Policy for the Buildings in the state. This decision if put into practice will surely force the builders and developers to complete the buildings or projects which are stopped halfway and gradually there will be downfall in the prices, said the realty experts.
But some realty professionals explained that, there will be a hike in the rates once the builders fallow the rules set by the government accordingly. As per the new rule, the building owners are required to bear Rs. 500 per Sq.mts in the city corporation limits and an additional Rs. 200 for documentation.
If any unauthorized or illegal buildings built without the plan approval shall be regularized by paying the specified fees and fine of Rs. 5000-9000 for each floor in the building at the concerned authorities under the new policy, said the state Govt. officer to the www.propertykhazana.com. It is Rs. 2000-6000 fixed for buildings not coming under the city municipality limits.
Further under the new Retention Policy any building with more than 5 floors is considered for regularization but the building is required to have the proper parking provision for the vehicles.
Source: NBTVLIVE

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