7 months ago
Punjab's New Cooperative Housing Notification Criticized
A former minister in Punjab, India, is upset about a new rule that makes people living in cooperative housing societies pay extra money for their homes.
He says this is unfair because the old rule didn't have these extra charges, and many people bought homes expecting to pay less.
The new rule is seen as a big problem for those who spent their life savings on these homes.
Former Punjab health minister Balbir Singh Sidhu criticizes new notification on cooperative housing societies.
Notification imposes stamp duty and registration charges, creating financial burden on residents.
Under the old Punjab Cooperative Societies Act, 1961, no such charges were applicable.
Sidhu calls the new notification a 'betrayal' of residents who bought homes in good faith.
Thousands of societies were formed and homes were purchased based on the old provisions.
- Who
- Balbir Singh Sidhu, former Punjab health minister
- What
- Criticism of new notification on cooperative housing societies
- Where
- Punjab, India
- When
- Not specified
- Why
- Amendments to the Punjab Cooperative Societies Act, 1961, imposing stamp duty and registration charges
Key facts
- Critic
- Balbir Singh Sidhu
- Issue
- New notification on cooperative housing societies
- Act
- Punjab Cooperative Societies Act, 1961
- Changes
- Imposed stamp duty and registration charges
- Impact
- Financial burden on residents
Quotes
Balbir Singh Sidhu
Former Punjab health minister
“On this basis, thousands of societies were formed and people bought homes in good faith”
indianexpress.com
“a betrayal of lakhs of residents”
indianexpress.com
