Maha: Property registration to be at flat 1%

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Posted: Tuesday, Nov 17, 2009 at 1306 hrs IST
Updated: Tuesday, Nov 17, 2009 at 1306 hrs IST

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Mumbai: Revenue department has approved a proposal to levy a flat one per cent charge on property registrations with immediate effect, doing away with the Rs 30,000 ceiling.

Revenue Minister Narayan Rane lifted a stay on an earlier order of the government.

The decision on the one per cent property registration fee was taken by then Revenue Minister Patangrao Kadam early this year but was stayed ahead of elections.

Rane cancelled the cap of Rs 30,000 for the registration fee, an official in the Revenue Minister's office said, adding the measure is expected to earn the state exchequer Rs 250 crore.

According to the new order, if the ready-reckoner value of a property according to the government is Rs one crore, the registration fee to be paid will be Rs one lakh, which earlier stood at Rs 30,000.

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» Registration on puchase of property

Posted by ramanks on 2009-11-21 14:05:59.359525+05:30
What is the effective date for raising the limit from Rs 30,000/- to 1% for property registration. Request your kind reply regards and thanks

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» This is One of Foolish Step That This Government could do.

Posted by Rajesh Kalwar on 2009-11-18 23:40:55.508077+05:30
Already RealEstate sector is going through abadphase. Dreams of poor middle class citizens could alaways be adream for ever in this artificially Inflated price scenario.Already Stamp duty in Maharashtra is on higher side & Government already Earns 10 times from this as compared to earlier decade . On top of it already implemented Ready Reckoner rates are as if Government seems like a extornist to the buyers . On top of it Rising of Registration charges for no improovement in services of Registrar offices throughout the State is going to Kill the Public . Basically it is a moral duty of the State to make Registration of Property transactions free of charge or cost to cost after receiving a hefty Stamp duty. Looking at property Registration as a Milching cow is another foolish step that this government could do to harass the aam aadmi along with builder lobby.

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Maha: Property registration to be at flat 1%

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