New notification issued by Punjab government regarding cooperative housing societies is a direct fraud on lakhs of residents

New notification issued by Punjab government regarding cooperative housing societies is a direct fraud on lakhs of residents

S.A.S.Nagar 17 January ( Ranjeet Singh Dhaliwal) :[ Balbir Singh Sidhu Former Health Minister, Punjab Balbir Singh Sidhu Former Health Minister, Punjab said that The recent notification issued by the present Punjab Government regarding Cooperative Housing Societies is a complete betrayal of lakhs of residents who invested their lifetime savings in these societies, relying on the protection assured under the Punjab Cooperative Societies Act, 1961.

Under the Cooperative Societies Act, 1961, no registration or stamp duty was required for allotment or transfer of property within cooperative housing societies. This was the very foundation on which thousands of societies were formed and people purchased their homes in good faith. However, the present government has now amended the Act and imposed heavy stamp duty and registration charges, granting exemption only to the first allottee and partial relief of merely 1% to 3% stamp duty to subsequent buyers — that too only up to 31 March 2026.

This is nothing but an attempt to extract maximum money from innocent residents, most of whom belong to the middle class and senior citizen categories. Even worse, Cooperative Housing Societies themselves have been given no relief and are being forced to pay 8% stamp duty on the current market rate, which is completely unjust, impractical and anti-people. In reality, in most societies, houses have already changed hands multiple times over the years. Why should the present legal owner be punished for something that was never required at the time of purchase?

I strongly demand that the Punjab Government immediately: 1. Treat the present legal owner as the first owner for the purpose of exemption, irrespective of how many times the property has changed hands. 2. Allow Cooperative Housing Societies to levy 1%–2% NDC (No-Dues / Transfer Charges) so that societies can maintain roads, parks, sewerage and other infrastructure without burdening the government. 3. Grant a minimum of one year’s time for registration, so that residents can arrange funds and are not forced into distress payments. 4. Permit societies to register their chunk of land at the original allotment price, so that real and meaningful relief reaches residents instead of only benefiting the government exchequer.

The Cooperative Housing model was meant to provide affordable and secure housing — not to become a revenue-generating tool for the state. I urge the Punjab Government to immediately review this notification and stand with the people, not against them.