Chandigarh, May 24 -- The Punjab cabinet on Friday approved an amendment to the Punjab Management and Transfer of Municipal Properties Rules, 2021, reducing the time period given to buyers of properties sold by urban local bodies for depositing the payment.

The cabinet took the decision in a meeting held under the chairmanship of chief minister Bhagwant Mann at his official residence here. As per the amendment, the time period for depositing the sale price by allottees for properties sold by the urban local bodies will be cut to six months. "The allottees will now be required to deposit the full sale price within 180 days from the date of allotment, replacing the earlier provision of six half-yearly instalments. The decision aims at fast...