SENIOR CITIZENS WORST AFFECTED; THOUSANDS OF FAMILIES’ WEALTH REMAINS LOCKED IN THEIR PROPERTIES FOR NEARLY THREE YEARS AND NINE MONTHS
Chandigarh: The Property Shareholders Welfare Association, Chandigarh, has raised its voice demanding the removal of restrictions on the separate sale of individual shares in jointly owned residential properties in the city. During a press conference organised by the Association on Saturday at the Chandigarh Press Club, Sector 27, the members highlighted the financial and social hardships being faced by thousands of families due to the restriction.
Expressing particular concern over the difficulties faced by senior and super-senior citizens, the Association stated that the restriction, which came into effect on February 9, 2023, has left people’s lifetime savings locked in their own properties. Despite nearly three years and nine months having passed, property owners remain unable to realise the value of their legally owned shares. Consequently, children’s education, marriages, medical expenses, loan repayments and retirement plans are being adversely affected.
Advocate Khindria, Brigadier Pradeep Sharma, Harpal Singh, Bhupinder Singh and Pooja Bharat Kapoor, among others, addressed the press conference on behalf of the Association.
Association representatives said that senior citizens are among the worst affected by the restriction, as many had invested their lifetime savings in jointly owned properties. At this stage of life, they need financial resources for medical treatment, personal care and everyday necessities. However, despite having legal ownership of their respective shares, they are unable to derive any financial benefit from their properties.
Citing Article 41 of the Constitution of India, the Association stated that providing assistance to citizens in old age is part of the Directive Principles of State Policy.
According to the Association, nearly 10,000 property shares have been sold in Chandigarh over the past several years. The organisation estimated that the existing restrictions could have an annual impact of approximately Rs 200 crore on potential revenue from stamp duty, amounting to nearly Rs 750 crore over a period of three years and nine months. However, the Association clarified that these figures are estimates and require official verification.
The Association also questioned the interpretation and manner of implementation of the Supreme Court judgment dated January 10, 2023. It maintained that the objective of preventing apartmentalisation should not become a ground for depriving joint property owners of their legal right to sell their undivided shares.
The Association further stated that the existing policy is contributing to an increase in family disputes and litigation. Co-owners who wish to separate their respective shares in jointly owned properties have been left with limited options, with approaching the courts being one of the few available remedies. According to the organisation, Chandigarh’s architectural heritage and planned character can be protected through proper scrutiny and approval of building plans.
The Association demanded immediate intervention from the Chandigarh Administration, Union Ministry of Home Affairs and elected representatives. In particular, keeping in view Union Home Minister Amit Shah’s scheduled visit to Chandigarh on November 1, the organisation appealed to him to take cognisance of the issue and ensure an early resolution.
The Association demanded the establishment of a fair, transparent and legally sustainable mechanism for the sale of individual property shares, with priority being given to cases involving senior and super-senior citizens.
Concluding the press conference, the Association stated that when a citizen cannot realise the value of a legally owned property even during times of financial need, despite being its rightful owner, it raises a serious question concerning economic rights and human dignity. The organisation urged the Administration to take an early decision on the matter.
