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Wednesday, November 18, 2009

Now, you have to pay flat 1 % registration charges!

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 lakh
(it earlier stood at Rs30,000)
Lifting 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.

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.
Want to know what Narayan Rane did on Tuesday? Click the image!:

This would earn the state exchequer Rs250 crore.

To read more, please, visit Now, flat 1% to register property-DNA

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  1. Is it effective from retrospect when original order came in mid feb this year..OR...from Mid november ? So -
    a) If the person paid 30,000 in march-april onwards, will they have to pay additional money now ?
    b) If someone got registration done at 1% during the feb end period, what will he need to do ?

  2. Is only the registration fee's maximum cap being removed? or there is any change on how the stamp duty will be charged?

    If a transaction is carried in the Month of Dec and stamp duty is paid; and if is registed in the moth of January, will the buyer have to revisit the stamp duty paid?

  3. Can anyone please post a copy of ready-reckoner online??
    Thanks in advance

  4. can someone tell me if there is any diff in rrr for flat and row house? how much are these rate in baner, pallod farms