They claim that retrospective withdrawal forces them to revalidate titles and effectively pay stamp duty twice.

Prospective over Retrospective: Punjab Set to Amend Mandatory Housing Society Registration Norms

Property owners in Punjab are rushing to meet a January 31 deadline for registering plots and flats in cooperative housing societies. The surge comes as the state government prepares to "tweak" its policy. Under the current notification, owners can avail of a concessional stamp duty rate of 1 per cent for registering properties in individual names.

According to official sources, the government is set to amend the policy to make registration mandatory on a prospective basis, rather than retrospective. This shift is expected to be presented before the Punjab and Haryana High Court, where petitions against the retrospective application of stamp duty are pending.

Previously, the Cooperation Department considered a lump-sum charge of Rs 1 lakh for those seeking the benefit, but the proposal was dropped.

Members of nearly 600 cooperative societies, primarily in Mohali, argue that they have enjoyed exemptions for decades. They claim that retrospective withdrawal forces them to revalidate titles and effectively pay stamp duty twice.

As implementation instructions only reached district officials in mid-January, many owners are now lining up daily at tehsil offices. Several societies have submitted representations to the Chief Minister’s Office seeking an extension of the concessional period beyond the end of the month.

Source: The Tribune