Fees to register property in city hiked
Additional revenue generation spree of the Delhi government continues further as the Delhi Cabinet on Monday gave its nod to hike the registration fee of properties from the existing Rs 100 to one per cent of the total value, which will boost the state exchequer with another Rs 100 crores annually.
Delhi revenue minister Raj Kumar Chauhan said that the properties valued at Rs 20 lakhs will have to pay a fee of one per cent on the total transaction value in place of Rs 100, which had been in force since 1964. For the properties valued above Rs 20 lakhs, a fee at a flat rate of Rs 50,000 will have to be paid.
“The fee of Rs 100 was fixed in 1964. It has not been changed for the last 46 years. The increase in registration fee will fetch the government nearly Rs 100 crores annually,” said the minister, while adding that the fee for issuing a will has also been increased from the current Rs 100 to Rs 500. The decision has come within a week of the city government effecting hike in the rates of Indian-made foreign liquor and beer, which will help the government mop up additional Rs 350 crores annually.
The government having been faced with the task of generating resources for its Rs 26,000 crores annual budget is taking all steps to generate additional revenue to plug the shortfall.
Defending the decision, chief minister Sheila Dikshit, who chaired the Cabinet meeting, said that “rates in Delhi are very nominal and much lower than prevailing rates in Haryana and UP”.
“The prevailing rate in Delhi for registration of documents such as conveyance deed, sale deed, gift deed, partition deed, settlement deed is just Rs 100, whereas in UP the rate up to value of Rs 2.5 lakhs of movable/immovable property is one per cent and two per cent in case of value above Rs 2.5 lakhs, subject to a maximum of Rs 10,000. In Haryana, the rates vary according to value set forth in the document,” Ms Dikshit added.
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