Residents of Delhi will have to pay more for registering property with the state cabinet approving a proposal to revise registration cost of properties in the capital, which will gain a revenue of  Rs.100 crore.

In a meeting of the cabinet, headed by Chief Minister Sheila Dikshit, decided that one percent of the value would be levied for property up to Rs.20 lakh while the fee for property over Rs.20 lakh was fixed at Rs.50,000.

Revenue Minister Raj Kumar Chouhan told reporters after the meeting,”The fee was not revised since 1964 and so far people were charged only Rs.100 even though the property prices have risen manifold. We are hoping to generate a revenue of Rs.80-100 crore,”

Chouhan added, Rs.500 will be charged for registering a will, while people will have to shell out Rs.1,000 for registration of general power of attorney. The charges for both were earlier fixed at around Rs.100.

The revised rates will come into force after the issue of a notification,according to a Delhi official.

Dikshit said that the fees charged are very nominal and lower than prevailing rates in the neighbouring states of Haryana and Uttar Pradesh.

The official also said  that,the decision to revise the property registration fee was taken in a bid to generate additional revenue against the backdrop of large spending on Commonwealth Games.

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