Registration of property may cost more on Delhi pattern

Ramkrishan Upadhyay   

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Tribune News Service  

Chandigarh, June 25    

Registration of property  in the city is likely  to cost more as the  MC is mulling over levying transfer duty on the  pattern of the  Delhi Government. 

Sources  said the   MC was preparing the  agenda in this regard, which would be placed before the general house  of the  civic body  for  approval. The  proposal is  among a slew  of measures being considered by the MC to  improve  its  financial situation. 

 An officer involved in the process  of  drafting the   proposal  said at present, the   MC was not getting any share  from the Administration   from the registration of property.  

The UT is  currently charging 5  per cent  of the  collector  rate as stamp duty for registration, besides  the registration  fee. In Delhi, residents  are paying  6  per cent  of the  collector rates for registration. Of the  6  per cent, 3  per cent  stamp duty  goes to the kitty  of the Delhi Government, while  3  per cent  transfer  duty goes to the   MC.

Besides,  the  MC is  also  considering  street charges for owners of cars and other commercial vehicles in Chandigarh on the Delhi pattern.   The street charges will be  imposed  one-time for private car owners,  while  commercial vehicle owners will be charged on an yearly  basis.

Stamp duty

• The UT is currently charging 5  per cent of the collector  rate as stamp duty for registration, besides the registration fee.
• In Delhi, residents  are paying  6  per cent of the collector rates for registration.