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Delhi transfer duty hike of 1% to burden property buyers: Expert

The decision taken by the unified Municipal Corporation of Delhi to hike transfer duty by 1 per cent on properties priced above ₹25 lakh across the city will put additional burden on buyers and adversely impact transactions in secondary property market, according to real estate consultants.

File photo - After the hike, the transfer duty will be 4 per cent for men and 3 per cent for women buyers.((HT Archive/Representative image))
File photo - After the hike, the transfer duty will be 4 per cent for men and 3 per cent for women buyers.((HT Archive/Representative image))
Published on Jun 02, 2022 06:51 PM IST
PTI |

In a first, SDMC crosses 1,000 crore in property tax collections

SDMC collected over ₹1,075 crore from 460,000 taxpayers this year. In comparison, the civic body managed to collect ₹943 crore in 2020-21 and ₹823.6 crore in the 2019-20 financial year.

The civic body has set a property tax target of <span class='webrupee'>₹</span>1,200 crore for the next financial year. (Picture for representation only/Amal KS-HT Archive)
The civic body has set a property tax target of 1,200 crore for the next financial year. (Picture for representation only/Amal KS-HT Archive)
Published on Apr 02, 2022 10:33 PM IST

Stamp duty on property registrations increased in Mumbai, three other cities 

The Maharashtra government had decided in February 2019 to levy 1 per cent metro cess in the four cities. But its implementation was stayed after a year due to the outbreak of Covid-19 in March 2020.  

Stamp duty on property registrations will be increased by one per cent.((Representative photo/HT archive))
Stamp duty on property registrations will be increased by one per cent.((Representative photo/HT archive))
Updated on Apr 01, 2022 08:55 PM IST
By, New Delhi

Maharashtra waives off tax on residential units up to 500 sq ft in Mumbai

According to the Maharashtra government, the decision will benefit owners of over 16 lakh houses below 500 sq ft in Mumbai.

Waiving of property tax of small residential units was the part of the election manifesto of Shiv Sena that rules the BMC, in the 2017 BMC polls. (HT PHOTO)
Waiving of property tax of small residential units was the part of the election manifesto of Shiv Sena that rules the BMC, in the 2017 BMC polls. (HT PHOTO)
Published on Jan 01, 2022 10:21 PM IST
ANI | | Posted by Sharangee Dutta, Hindustan Times, New Delhi

Short of funds, Delhi’s south civic body looks to hike annual property tax

To be sure, property tax rates proposed by successive commissioners have not been cleared by the elected wing (the councillors) in the past 10 years

SDMC commissioner Gyanesh Bharti proposed the tax hike in the budget proposals for 2022-23. The budget was advanced this year in view of the upcoming elections, civic officials said, and added that the SDMC wanted to announce the plans for the next financial years before the model code of conduct for the civic polls kicks in. (Getty Images/iStockphoto)
SDMC commissioner Gyanesh Bharti proposed the tax hike in the budget proposals for 2022-23. The budget was advanced this year in view of the upcoming elections, civic officials said, and added that the SDMC wanted to announce the plans for the next financial years before the model code of conduct for the civic polls kicks in. (Getty Images/iStockphoto)
Updated on Nov 24, 2021 01:57 AM IST
ByParas Singh, Hindustan Times, New Delhi
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