The government has decided to increase land value and registration charges as per the recommendation of the sub-committee on resource mobilization headed by state finance minister Harish Rao. The government has fixed the registration fee at 11 per cent in Tamil Nadu, 10 per cent in Kerala and 7.5 per cent in Andhra Pradesh. The new prices, in addition to the fare, will be around Rs. The government estimates revenue at Rs 3,000 crore.
Like the old charges ..
Previously, registration fees were 6 per cent (stamp duty 4 per cent, transfer duty: 1.5 per cent, registration fee 0.5 per cent).
The new charges are as follows.
New registration charges 7.5 per cent (stamp duty 5.5 per cent, transfer duty: 1.5 per cent, registration fee 0.5 per cent)
The minimum price per square foot of flat in an apartment has been fixed at Rs.1000 as against Rs.800 in the past. The prices of flats and apartments have been increased from 20 per cent to a maximum of 30 per cent.