New Delhi: Owning a house in the city is now going to be costlier with Delhi government deciding to increase the registration fee for properties valued above Rs. 50 lakh.
The Delhi Cabinet, presided over by Chief Minister Sheila Dikshit, decided to lift a cap of Rs. 50,000 as maximum registration fee which will result in increase in registration fees for high-value properties.
"We have decided to lift the upper cap of Rs. 50,000 as registration fees," Dikshit said after the meeting.
Government currently charges one per cent of total value of a property as registration fees. For a property worth Rs. 50 lakh, the registration fees charged is Rs. 50,000 which is the upper cap.
"Because of the cap, the fees was same for a property worth Rs. 50 lakh as well as a property worth Rs. one crore or Rs. 2 crore. But with the cap gone, fees for a property worth Rs. one crore will be Rs. one lakh and for a property worth Rs. 2 crore, it will be two lakh instead of earlier Rs. 50,000," explained an official.
Officials said the decision was taken to increase collection of revenue through registration of properties.
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