Civic body wants tenants to purchase their old rental properties

House-in-handsBy Accommodation Times Bureau

LUDHIANA

The Ludhiana Civic body has started approaching the tenants to buy their old rental properties. It has decided to generate the revenue through the sale of their old rental properties. The policy will end on March 31, before the end of policy the civic body wants the tenants to buy their old rental properties.

In the starting month nobody has reached the municipal corporation to avail the policy, so the civic officials have now started approaching the individual’s tenants.

In 2017, the local authority had issued a notification in this regards. It said that the tenants will have to pay 25% of the collector rate of the area and one-fourth payment will have to be given within one month and the rest will be payable in three annual instalments. If the applicant pays the entire amount within the time frame of 30 days, then an additional 5% rebate will be given to the applicant.





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