Punjab govt makes registration of cooperative housing societies affordable, secure

Chandigarh, Jan 13 (PTI) In a decision aimed at strengthening property rights and easing long-pending legal uncertainties, the Punjab government has introduced major citizen-centric reforms to benefit residents living in cooperative housing societies.

Acting on the directions of Chief Minister Bhagwant Mann, who also holds the Cooperation Department portfolio, the government has approved a comprehensive framework to make registration of cooperative housing properties affordable, secure and legally robust, while ensuring legitimate recovery of stamp duty for the state.

An official statement here on Tuesday said the state government has taken far-reaching steps to formalise property transactions in cooperative housing societies, many of which have remained unregistered for decades.

"The chief minister has approved a set of reforms to ensure that property transactions in cooperative housing societies are formally registered, legally secure and financially affordable for citizens, while also safeguarding the state's revenue interests," the statement said.

About the key provisions, it said instruments of original allotment executed by cooperative housing societies in favour of their original members have been completely exempted from stamp duty.

"Such registrations will be permitted at face value, with only a nominal registration fee payable," the statement said, while adding that the same exemption has also been extended to legal heirs, spouses and eligible family members as defined and notified by the Department of Revenue, to ensure that genuine successor cases are fully protected.

To further enable thousands of families to secure clear legal title to their homes, the government has introduced highly concessional, time-bound stamp duty rates for non-original allottees and transferees, notified on January 12.

"Under this decision, stamp duty has been fixed at 1 per cent for registrations completed up to January 31, 2026, 2 per cent for registrations up to February 28, 2026, and 3 per cent for registrations up to March 31, 2026. After this period, normal stamp duty rates will apply," the statement said.

The government has also placed a clear statutory cap on transfer fees that may be charged by cooperative housing societies.

"This measure ensures that members are not subjected to arbitrary or excessive demands at the time of transfer or registration," it said, explaining that these reforms were necessitated because a large number of properties in cooperative housing societies had remained unregistered for years, leaving families without clear legal ownership and exposing them to disputes and litigation.

The reforms ensure legally secure ownership for citizens, lawful recovery of stamp duty for the state, encouragement of registration through incentives rather than coercion, and protection of members from unreasonable transfer charges by societies, the statement said. PTI SUN KSS KSS