Property transfer duty hike by 1% above Rs 25 lakh: Civic body

03 Jun 2022 CW Team

Buying properties in Delhi will get expensive as the Municipal Corporation of Delhi (MCD) has decided to hike the transfer duty by 1% on properties priced above Rs 25 lakh.

Officials told the media that after the price hike, the transfer duty would be 4% for men and 3% for women buyers.

It aims to improve the financial health of the municipality, which has been hit severely due to the Covid-19 pandemic.

It had been the first major decision after the three civic bodies north, east, and south, unified last month.

It was decided in a meeting with a proposal to increase the transfer duty by 1%. The proposal was approved by the special officer of the MCD.

Currently, the transfer duty applicable on the sale and purchase of property in Delhi-NCR is 3% for men and 2% for women homebuyers.

This initiative will increase revenue share and strengthen MCD's offers to overcome the financial challenges and provide the best services to the people.

The authorities said the surge in transfer duty would affect only those buyers who will purchase property or have a registered value above Rs 25 lakh.

According to the civic officials, transfer duty is collected in addition to the stamp duty.

The price hike will be applicable only on transfer duty, and it will not affect homebuyers aiming to purchase properties below Rs 25 lakh.

Image Source

Also read: Delhi government to hike circle rates by 30% in posh localities

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..