Tuesday, 18 May 2010

Delhi govt turns to property registration for funding CWG

Facing a severe funds crunch owing to hefty spending on projects related to the Commonwealth Games this year, the government of Delhi today decided to substantially raise the property registration fees in the capital to fetch an additional revenue of Rs100 crore annually.

Now, for registration of property worth up to Rs 20 lakh, 1% of the total value will have to be paid as registration fee instead of the current Rs 100.

The rate for property valued at more than Rs 20 lakh has been fixed at Rs 50,000.

The decision to raise the property registration fee under section 78 of the Registration Act, 1908, was taken at a cabinet meeting chaired by chief minister Sheila Dikshit.

"The fee of Rs 100 was fixed in 1964. It had not been changed for the last 45 years," Delhi revenue minister Raj Kumar Chouhan said. "The increase in registration fee will fetch the government nearly Rs 100 crore annually."

The new rates of registration will also be applicable for registration of documents such as conveyance deed, sale deed, gift deed, partition deed, and settlement deed.

Justifying the increase, Dikshit said property registration fees had remained unchanged since June 27, 1964, and it was decided to rationalise the rates after comparing them with neighbouring states. Also, Delhi has to cover for increasing cost of 2010 Commonwealth Games.

The national capital, hosting the prestigious Commonwealth Games in October, is going through financial difficulties, especially after the Centre substantially curtailed the allocation for the purpose in the Union budget.

Chouhan said fees for several other categories have also been increased. Now the fee for registration of a will has been increased to Rs500 against the existing Rs100.

Fees under the miscellaneous category have also been increased to Rs1,000 for each instrument.

For example, to file an appeal or to submit an application under various sections of the Registration Act, the existing fee of Rs 10 has been revised to Rs 100.

Similarly, for authentication of a power of attorney, the existing rate of Rs 3 has been increased to Rs 1,000.

3 comments:

sam said...
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Anonymous said...

ROBOCOP, a new police official for Commonwealth games

DELHI HAS got a new police official ROBOCOP who is very much in news these days. With the Commonwealth Games round the corner and reports of constant terror threats, ROBOCOP is the new Mini Remote Operating Vehicles (MROV) that will help commandos in a hostage situation and even defuse bombs.
Canada based ICOR Technology manufactured robot, ROBOCOP can not only trace the explosive but lift it and put it in a Total Containment Vehicle (TCV), which is used for defusing bombs. This way, bomb squad personnel will not have to expose themselves to the explosives.
MROV has a robotic arm with a 5 degree movement including a turret, shoulder, elbow, wrist and claw joint. It can lift approximately 20 kgs and drag up to 130 kgs. The caliber T5 robot are used by Special Weapons and Tactics (SWAT) teams across the world and can also drag injured people to safety, climb stairs and negotiate rocky terrain. It has a maximum speed of 8 km /hr.

HcoRealEstate said...
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