Lucknow: The Uttar Pradesh government has decided to increase property registration fee from exisiting Rs 5000 to Rs 10,000. The decision to hike property registration fee will earn the department an additional revenue of Rs 75 crore annually.
At present Rs 5,000 is the maximum fee charged for registration for executing sale deed of a property. UP government has decided to increase property registration fee to a maximum of Rs 10,000 from this december 1.
Principal Secretary Tax and Registration Desh Deepak Varma told news agency “Fee being charged at the time of registration of properties will be hiked from existing Rs 5,000 to Rs 10,000 from December 1,”. He said now one per cent fee would be charged for the registration of a property up to Rs 2.5 lakh and two per cent for properties above Rs 2.5 lakh.However, this fee will not be more than Rs 10,000.It will also provide relief to those who own property of value less than Rs 2.5 lakh.