Donation settlement.. Deed fee refund? tamilnadu government soon good decision?
CHENNAI: In tamil Nadu, there has been an explosion of demands to withdraw the increased deed registration fee and to re-enforce the old fee.
In tamil Nadu, the fees for the registration department had not been increased for a long time, but the fees were increased only on the 10th.
What is the Settlement gift Deed and Will the Registration fee hike be waived off by TN Govt
Registration fees of deeds like public authority, settlement, partition, construction agreement etc. have been increased. This increase in fares is causing dissatisfaction among the public...
Settlement Deed: The reason is that due to this increase in fees, there will be some hesitation for those who want to buy a new house, and moreover, the need to pay 10,000 rupees to register the settlement deed will seriously affect the masses, so there are demands that the government should bring the increase in the fee for the settlement deed to the old level. are coming
Apart from that, for registration of construction contract, which was already 1 percent fee, now it has been increased to 3 percent... Similarly, 1 percent fee has to be paid for public authority registration. If you add other charges to these, you have to spend an additional 4 percent of the value of the property.
Apart from this, there is confusion on how to calculate the value of the building when there is only a guide value for the land, so there have been a lot of demands to force the government to withdraw this rate hike.
PAI Petition: In such a context, the South Center of the Builders Professional Association of india (PAI) had also sent a petition to chief minister Stalin to reduce the registration fee of public authority documents. In that, General Power of Attorney is used only for 6 months to 1 year. It also pointed out that the levy of a percentage of the value of the property would cause a slowdown in house sales.
In this case, demands have exploded from the side of real estates.. The executives of indian Real Estate Developers Association, "Gredai" have appealed to chief minister Stalin to reduce the rate hike.
The next demand: In this regard, in an interview given to a channel by the administrators of Gretai organization, no time has been given to implement the new charges.. Due to the increase in the public authority, construction contract charges, the people who buy houses under 50 lakh rupees incur an additional cost of 1.25 lakh rupees.
For the real estate industry, which is already recovering from the Corona problem and the problems of rising construction materials, the government's rate hike is a huge setback.. As a result, 25 percent of people who were in the position of paying an advance to buy a house, have also postponed their decision. "We have petitioned the chief minister to reconsider the rate hike as this rate hike has put a heavy burden on the home buyers," they said.
Will the fare go down?: It is also believed that the tamil Nadu government will consider withdrawing the fare hike as there are growing demands from all quarters to reduce the sense of gridlock and bring back the old status quo.
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