Punjab Newsline, Chandigarh, September 3-
Describing the Punjab Apartment and Property Regulation (Amendment) Bill, 2024 as a significant relief for individuals who have purchased plots in illegal colonies, Cabinet Minister Aman Arora attributed this big step to CM Bhagwant Singh Mann’s commitment towards public at large by initiating the effort to regulate the real estate sector in the state.
He further mentioned that it took two and a half years to the state Government to bring this legislation to address the issues being faced by buyers of plots in illegal colonies and to serve as a deterrent for the future.
He slammed the previous governments for supporting illegal colonisers, resulting in the emergence of urban slums. Two amendments were introduced in the PAPRA Act, 1995 in 2014, 2016 and 2018, but these changes primarily favoured illegal colonisers rather than addressing the issues faced by the general public. Currently, approximately 14,000 illegal colonies have sprung up across the state.
Aman Arora said that individuals who have written sale agreement, possess a power of attorney and have bank transactions dated before July 31, 2024, for the acquisition of plots up to 500 yards, can proceed with the registration until November 2 of this year without requiring any No Objection Certificate (NOC).
