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Thursday, October 01, 2020

In South Delhi, buying property gets costlier

According to a notice issued by SDMC, it has increased transfer duty from 3% instead of 2% in case of women buyers, and 4% instead of 3% for other buyers, for properties with a registered value of Rs 25 lakh and above.

Written by Abhinav Rajput | New Delhi | Updated: September 11, 2020 8:56:38 am
south delhi real estate, south delhi property cost, delhi property tax, south delhi property transfer tax, delhi city news, indian expressThe proposal has been passed by the standing committee, the highest decision-making authority, and will be placed in the house meeting scheduled later this month.

Buying property is set to get costlier in South Delhi, with the South MCD increasing transfer duty — calculated on registered sale value of property in addition to stamp duty — by 1% on properties above Rs 25 lakh. Residents will also have to pay more to the corporation to install lifts in their societies, from Rs 5,000 to Rs 2 lakh, as per a proposal. According to a notice issued by SDMC, it has increased transfer duty from 3% instead of 2% in case of women buyers, and 4% instead of 3% for other buyers, for properties with a registered value of Rs 25 lakh and above. It said there will be no change in transfer duty for properties which have a registered value below 25 lakh. The proposal has been passed by the House and new rates came into force from September 10.

SDMC has also decided to increase processing fee for installing lifts in DDA flats and cooperative group housing societies in A and B category posh colonies such as Green Park, Vasant Vihar, Greater Kailash, South Extension, Jor Bagh and Sunder Nagar from Rs 5,000 to Rs 2 lakh. The rates would be Rs 1.5 lakh in C and D category areas like Amar Colony, Alaknanda and Lajpat Nagar, and Rs 1 lakh in E,F,G, H colonies such as Chattarpur, Ber Sarai and Anand Parbat. “The proposed lifts are installed in common areas. This… as well as services are maintained by SDMC. Due to installation of lift, there is a burden on existing services being maintained by SDMC…,” read the resolution by the civic body.

Explained

Behind the move

The proposal has been passed by the standing committee, the highest decision-making authority, and will be placed in the house meeting scheduled later this month.

Leader of Congress in the South MCD, Abhishek Dutt, said with such hikes under different heads, the decision would trouble people at a time when their income is already hit by Covid.

However, Leader of the House in South MCD, Narender Chawla, said they would revise and lessen the amount before passing the proposal. He said the hikes are a result of the Delhi government not giving MCDs their dues: “If charges are not increased, the condition of South MCD would be like that of the North, where salaries are delayed by months.”

In another proposal, people will now have to pay to get their properties desealed. The charges will vary between Rs 10,000 and Rs 25,000 depending on the category of the colony where the property in question lies. This, however, does not include those sealed by the SC-appointed monitoring committee.

“Applications for desealing are submitted without any supporting documents, and processing them requires a lot of administrative effort… It not only diverts resources but also hampers primary duties,” said a senior official.

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