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Chandigarh traders seek multiple-ownership for mutual business growth

The Chandigarh Administration has allowed two adjoining commercial sites having multiple owners to amalgamate along with a provisio. The Union Territory chief architect Kapil Setia mentioned that the traders will benefit from this decision. If we go by his statement then this decision undertaken aims to fulfil the requirements of the residents at large. Though we believe there will be challenges ahead to take measures amidst the development scenario to protect the aura of the city.

It is to note that permanent amalgamation of commercial properties will not see any change in its rule as of now. In accordance with the norms, amalgamation of two or more adjoining sites with the same ownership is allowed, but there will be appropriate terms and conditions that the revised plans are approved by the appointed authority body.

The administration had introduced into Chandigarh conversion of land for use of industrial sites into commercial activity/services in Industrial Area phases I and II. It is therefore important to note that amalgamation is not yet allowed in industrial sites, which were converted into commercial.

The traders have been demanding permanent amalgamation of commercial sites with multiple owners on grounds that the old rule has lot relevance in present day scenario. If the present business scenario and resources are taken into consideration then it is possible what the traders are saying that the old sets of rules are not of much relevance now. The demand by the traders is that of permanent amalgamations of commercial sites with multiple owners. It is quite true if we understand the nature of properties which have multiple owners and the share of the same have been distributed within families. Also, it is not feasible for a single entity to purchase an entire property considering the expenses involved.


Taking example from Vridian and its developing of World Trade Centre (WTC) at Noida can benefit the traders to come under one roof and create a brand new growth trend for multiple business growth stories. Viridian RED leads in timely execution of its properties and thus can be used as an example for many real estate solutions.

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