Sale deeds registration gets expensive in Panipat

With the overall increase from 10 to 20 per cent in the collector rate, the registration of properties’ sale deeds has become expensive in Panipat district.

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The new collector rate has been implemented from Monday.

However, in Samalkha, the maximum collector rate has been increased to 10 per cent, but at some places, the collector rates have increased to 20 per cent also.

In Madlauda, Israna and Bapoli have been increased only up to 10 per cent, but at some places, the circle rate has been increased up to 20 per cent. Earlier, the collector rate for Yamuna Enclave was Rs 22,000 sq m, now it has been hiked to Rs 24,200 per sq m, in Sector 13/17 the collector rate was Rs 20,000 per sq m, now it has hiked to Rs 24,000 per sq m; in Ansal earlier collector rate was Rs 23,000 per sq m, now it has hiked to Rs 27,600 per sq m, in Sector 11-12 earlier collector rate was Rs 25,000 per sq m, now it is Rs 27,500 per sq m, commercial rate has hiked from Rs 75,000 to Rs 90,000; in Model Town the residential rates were Rs 45,000 and it has hiked to Rs 49,500 per sq m, while the commercial rates hiked from Rs 1.5 lakh to Rs 1.65 lakh per sq m. Similarly in other areas, the hike is between 10 to 20 per cent in collector rates. The highest collector rate for residential area is in Model Town here ie Rs 49,500 per sq m.

If any person has to purchase a 250 sq m plot in Model Town, he has to spend Rs 1.23 crore as per the circle rate plus 7 per cent of stamp duty (ie Rs 8.66 lakh) = Rs 1.30 crore and if registry would be done in the name of a woman, stamp duty would be only 5 per cent ie Rs 6.18 lakh. Earlier, the buyer had to spend Rs 1.19 crore for purchasing a 250 sq m plot in Model Town as per the previous collector rate.