Narayan Rane lifts the stay and cancels the maximum cap of Rs30,000
This means that if the ready-reckoner value of a property according to the government is Rs1 crore, the registration fee to be paid will now be Rs1 lakhLifting a stay on its own order barely a week after the new Democratic Front government took charge in the state, the state revenue department on Monday decided to levy a flat 1% charge on property registrations with immediate effect; until now the fee had been capped at Rs30,000.
(it earlier stood at Rs30,000)
The decision on the 1% property registration fee was taken by then revenue minister Patangrao Kadam early this year. After it drew harsh reactions, the order was stayed ahead of the Lok Sabha elections.
After taking over as revenue minister in the new state cabinet, Narayan Rane lifted the stay and cancelled the maximum cap of Rs30,000 for the registration fee on Monday.
This would earn the state exchequer Rs250 crore.
To read more, please, visit Now, flat 1% to register property-DNA
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