| |
 |
| THE PUNJAB APARTMENT AND PROPERTY REGULATION ACT, 1995 |
| This Act comes as a replacement of the Punjab Regulation of colonies Act, 1975 . While making certain changes in the provision of the older Act about development of colonies, it also enlarges the scope to cover regulation of apartment buildings. |
| For the purpose of this Act , a colony is defined as an area of more than 1000 sq.mt. which is divided or proposed to be divided into plots for residential, commercial or industrial purpose. Sub division of plots longer than 1000 sq. Mt. For these purpose, therefore, need a license under this Act. Apartment building come under the purview of this Act if the number of apartments is eleven or move. |
| The power for sanction of license have been vested in the Chief Administrator, PUDA . Application in this regard are entertained by Licensing wing in the PUDA Head office at Mohali. |
| The applicant is first required to register himself as a promoter under section 21 of the Act with any of the Additional Chief Administrator of PUDA at Mohali, Jallandhar, Ludhiana, Patiala and Bhatinda. The procedure for registration is quit simple and it is usually done in about a week to ten days. |
| The major obligations on the promoter under this Act are to obtain a license which includes approval of the layout plan of the colony and to develop the colony in accordance with the approval of the plan. The responsibility of providing internal services such as roads, street lights, water supply, sewerage, parks and green area is of the promoter. An estimate of expenditure on these works is made during the process of licensing and the promoter is required to furnish a bank guarantee of an amount equal to 25% of the estimate. |
| The license once issued is valid for three years. Its validity can be extended on payment of the requisite fee. |
| Apart from internal development works the promoter is required to pay external development charges for integration of the colony to the services of the city on which colony is dependent and for improvement of urban infrastructure in that city. The quantum of the development charges varies from city to city. |
| Other matters covered in the Act regulate dealing between the promoter and the buyer. The prime requirement is that the dealing should be transparent , there should be full disclosure of relevant information and the interest of the buyer should be protected. |
| The process of this issue of license usually takes 8 to 10 weeks. |
