New Delhi: People in the city will now have to shell out more for registration of properties with Delhi government deciding to increase the fee substantially to generate an additional revenue of Rs100 crore.
Delhi revenue minister Raj Kumar Chouhan said the registration fee would be 1% of the total value of the property worth upto Rs20 lakh.
For properties valued more than Rs20 lakh, the registration fee has been fixed at Rs50,000. Up till now, for any registration of properties, a fix amount of Rs100 was charged by the revenue department.
The decision was taken at a cabinet meeting chaired by chief minister Sheila Dikshit.
“The fee of Rs100 was fixed in 1964. It has not been changed for last 46 years. The increase in registration fee will fetch the government nearly Rs100 crore annually,” Chouhan said.
He said the fee for issuing a will has also been increased from current Rs100 to Rs500.
An official said the decision to increase the registration fee was taken to generate additional revenue as government was going through difficult financial situation because of hefty spending.