Punjab Cabinet decision: Now pay for properties sold by ULBs within 6 months
The buyers of properties sold by municipalities and improvement trusts will now have to clear all payments within six months after allotment as against the earlier deadline of three years in six half-yearly instalments, as per a decision in the Punjab Cabinet meeting Friday. Chief Minister Bhagwant Mann chaired the meeting.
Looking to streamline and expedite the payment process for properties sold by urban local bodies, approved, the Cabinet approved an amendment to the Punjab Management and Transfer of Municipal Properties Rules, 2021.
'As per the amendment, the Cabinet has decided to reduce the time period to six months for depositing the sale price by allottees for properties sold by the Urban Local Bodies. So, the allottees will now be required to deposit the full sale price within 180 days from the date of allotment, replacing the earlier provision of six half-yearly instalments. The decision aims at the faster realisation of revenue by urban local bodies, strengthening of Municipal finances and facilitation of the common man by a reduction in legal disputes related to delayed payments,' as per an official statement.
The cabinet also gave the nod to allot Rs 5 crore to Punjab Innovation Mission to help meet its objectives.
The decision has been taken in view of the immense contribution of the mission to unleash Punjab's growth potential and create a thriving economy by generating jobs and inviting investment.
'The mission is also important for the state as it acts as a catalyst to further give impetus to develop Punjab as an industrial hub in the country,' the official statement said.
In order to streamline the promotions in the Punjab Police, especially among those promoted from the Sports quota, the Punjab Cabinet also gave a nod to frame service rules for the officers/employees serving in 207 Specially Promoted Cadre.
This decision will regulate the future promotions of these Police personnel and further streamline their other service matters.
Likewise, based on recommendations of the Group of Secretaries committee to review redundant laws/ regularisation and decriminalisation, the Cabinet also approved the Punjab Appropriation Acts (Repeal) bill, 2025.
As per the recommendations of the committee, the Department of Finance has identified its appropriations acts for repealing, which authorised departments to incur expenditure from the Consolidated Fund of the state.
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