India, March 6 -- The UT Administration has invited suggestions and objections from residents regarding the proposed revision of collector rates in the city, which are scheduled to come into effect from April 1. Citizens can submit their feedback to the administration until March 20. The administration has issued a public notice along with the proposed revised collector rates. After reviewing the suggestions and objections received from the public, the administration will hold final deliberations before issuing the final notification on March 24. The revised collector rates will then be implemented from April 1. This is the second consecutive year that the administration has proposed an increase in collector rates. The revision is expected to make property registration more expensive, as higher collector rates lead to an increase in stamp duty charges, thereby boosting government revenue. Officials said that the proposed hike will impact both residential and commercial properties, resulting in higher property valuations across the city. However, the administration has proposed a larger increase in residential areas compared to commercial properties. According to the proposal, collector rates for most properties are expected to increase between 20% and 40%, while agricultural land rates could see a sharper hike of up to 60%. The revision in collector rates is likely to influence property prices in Chandigarh's real estate market, as the collector rate serves as the minimum benchmark value for property transactions and registrations....