Business

CAIT HAILED UNION GOVERNMENT DECISION TO GRANT PROPERTY RIGHTS. TO DELHI TRADERS

New Delhi:
The Confederation of All India Traders (CAIT) has hailed the decision of the Central Government to give property rights to shop owners in Delhi. It’s a landmark step which will be benefitting about 10 lakh traders in Delhi who are conducting business activities since a long time- said Mr Praveen Khandelwal, Secretary General of CAIT which has raising the issues of sealing and regularisation of shops since a long time.

While complimenting Prime Minister Shri Narendra Modi & Union Urban Development Minister Shri Hardeep Puri for giving a big relief to Delhi traders, Mr Khandelwal said that about 70% of Delhi land is in leese hold basis where traders were carrying business activities since decades without having any legitimate property right though property actually belongs to them only . Giving a right to get the property free hold will now make the traders a legitimate owner of the property. The major benefit will be accrued by traders as after getting free hold , they will be having access to finance from any Bank or financial institution which so far they were not able to avail. It will also entitle them to obtain other benefits which are being given to unauthorised colonies after their regularisation.

The CAIT raised this demand in previous tenure of the Government which has now been fulfilled. The Delhi traders are quite jubilant on this decision which at last is going to make them owners of their own shop or property. The traders were already commercial charges for house tax, electricity and other Givernmenment taxes since decades but their properties were not in their ownership.

Mr Khandelwal has suggested the Givernment that on the same pattern, the Government may bring an Amnesty scheme with a cut off date and separate development norms can be specified for areas falling under amnesty scheme. Thousands of shops are remained sealed for quite a long time which has devastated the trade of Delhi and a question of survival of traders, their employees and their families have arises. Under Amnesty scheme all such shops should be de-sealed so that smooth function of business in Delhi may began and there should not be any occasion for unemployment.

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