[INDIA REAL ESTATE NEWS] Good morning everyone I am Sankhraj from KI-KME.
Here I have important INDIA economic news to share with you which is as mention
The Uttar Pradesh stamp and registration department on Friday said that property
buyers can now pay the property registration fee online instead of manually in cash.
The state government’s move comes more than a month after it increased the
property registration fee.
The Uttar Pradesh government had on February 5, 2020 hiked property registration
fee from ₹20,000 (maximum) to 1% of property cost. Earlier, the property registry fee
was 2% on property that costs less than ₹10 lakh, and fixed ₹20,000 for a property
valuing more than ₹10 lakh. The new rates were made effective from February 14, 2020.
“As per the new rate, those who buy property costing more than ₹10 lakh have to pay
more fees, unlike earlier when the fee was fixed at ₹20,000. Paying the higher amount
of fees in cash was not convenient for buyers. But now, with online payment method,
they can do the same comfortably,” said SK Tripathi, assistant inspector general of
UP stamp and registration department, Noida.
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Have a nice day.