The authorities will now charge up to Rs 50,000 as fee for registration of per immovable property depending upon its collector rate while earlier the limit of charges was up to Rs 15,000 only.
In a significant decision, Haryana Cabinet Monday decided to increase fee for land transactions in the state. The authorities will now charge up to Rs 50,000 as fee for registration of per immovable property depending upon its collector rate while earlier the limit of charges was up to Rs 15,000 only. This fee is charged apart from the stamp duty charges.
The immovable properties registered under different categories which are technically known as ‘sale, gift, mortgages, sale certificates, rent or lease deed, collaboration agreement, deed of exchange of property, deed of settlement and deed of partition’ will be covered under the latest decision. These papers are known as non-testamentary documents related to immovable property.
Up to the transactions of land worth Rs 25 lakh, the registration fee was earlier in just few thousands. For the land transactions worth more than Rs 25 lakh, earlier only Rs 15,000 used to be charged irrespective of worth of the property concerned. But after the latest decision of the government, up to Rs 50,000 will be charged.
The registration fee is charged following a slab system. As per the revised rates, if land cost as per collector rates is more than Rs 25 lakh but does not exceed Rs 30 lakh, the fee will be Rs 15,000, if it exceeds Rs 30 lakh but does not exceed Rs 40 lakh, then the revised fee would be Rs 20,000, if it exceeds Rs 40 lakh but is less than Rs 50 lakh, then the revised fee would be Rs 25,000.
Similarly, if the land cost exceeds Rs 50 lakh but does not exceed Rs 60 lakh, then the revised registration fee would be Rs 30,000, if it exceeds Rs 60 lakh but is less than Rs 70 lakh, then the revised fee would be Rs 35,000. For the slab between Rs 70 lakh to Rs 80 lakh, the revised fee would be Rs 40,000. If the land cost as per collector rates is between Rs 80 lakh and Rs 90 lakh, then the revised registration fee would be Rs 45,000. Finally if the cost is over Rs 90 lakh then the revised rate would be Rs 50,000.
Justifying the hike in registration fee, the Haryana government said that the registration fee has been revised after almost 12 years. “There has been a considerable hike in the rates of property since then. Therefore, it has become necessary to increase the rates of registration fee in order to augment the state revenue to meet the increased development expenditure and to feed the expenditure of registration department,” said the state government after the cabinet meeting.
A Haryana official claimed that the revised charges are still less than of neighboring Punjab’s registration fee. “The maximum cap of registration fee in neighboring Punjab is Rs 2 lakh while it has been kept at Rs 50,000 in Haryana,” he added.
Source : The Indian Express