Business Under Stress Due to Stalled Registrations
Property dealers in Punjab are raising serious concerns over the continued closure of plot registrations in residential colonies across the state. At a special meeting held at the office of property dealer Kulwinder Singh Prince in Habowal Kalan, Ludhiana, members of the Property Dealers Association expressed deep frustration over the government’s failure to reopen registration services, which they say has severely disrupted the real estate business and resulted in losses running into crores.
Government Action Disrupts Trade Activity
According to the association’s president, Mandeep Singh Mani, and Chairman Inderjit Singh Bagha, the state government has placed a ban on registrations for several months. This has left many plot buyers unable to register their purchases, complicating ownership proof and making it difficult for individuals to secure bank loans against their properties. Dealers argue that this stagnation has damaged both the industry and buyers who wish to develop or leverage their properties.
Dealers Speak Out: “Government Failing in Duty”
Dealers highlighted that the government’s indecision and lack of clear communication have harmed the entire property sector. “Those who bought plots in good faith are now struggling to register them,” said one attendee, pointing out that loan applications are being rejected because of registration delays. The association claims that even basic commercial activities have come to a halt, as financial transactions and documentation depend on valid registrations.
Warning to Punjab Government
In a direct warning to the Punjab government, association leaders said if the ban on plot registrations is not lifted soon, they will plan a protest movement against the state authorities and hold them accountable for resulting economic damage. Several prominent dealers including Kulwinder Singh Prince, Vikas Vicky Jaiswal, Jagdish Khanna, Guljari Lal, Sunny Kumar, Rajkumar, Surendra Singh, Kishan Kumar, and Ram Kumar attended the meeting and supported the warning.
Impact on Buyers and Investors
Property owners have reported that due to the ban on registrations, potential investors are withdrawing from deals, trust in the local real estate market is declining, and overall business sentiment remains weak. Many buyers are stuck with properties they cannot legally document, leaving them unable to sell or mortgage their assets.
Expectations from Authorities
Dealers are urging the Punjab government to immediately reopen the registration system and issue clear guidelines to avoid further financial distress for buyers and traders alike. Property industry representatives say swift action will help restore confidence in the market and reduce mounting losses.
