Chandigarh, April 1 -- With the new financial year kicking in today, tricity residents, especially those living in Chandigarh, are set to feel a dent in their wallets as a series of revisions will come into effect, making everyday life more expensive. From higher water bills and increased fire safety charges to costlier property transactions and a marginal rise in liquor prices, both households and businesses will face added financial pressure.

Collector rates hit the roof

The biggest impact is set to be seen in the real estate sector as the UT administration has notified revised collector rates with hikes ranging from 8% to 22% across residential, commercial and agricultural categories (see box). Since these rates determine the minimum...