The Maharashtra Government has withdrawn the order staying increase in Registration Charges for Immovable Properties wef Monday.
The charges so far were 1% of market value of the property subject to cap of Rs 30,000/-. Now it will be flat 1% of Market value of the property without any limit. Thus if the value of property is Rs 1 Crore, the registration charges shall be Rs 1 Lakh (till now the amount was Rs 30000).
This will affect all transactions where the market value of property is more than Rs 30 Lakhs.
