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

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

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

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

Next Story
Infrastructure Transport

MoRTH to Frame IRC Norms for New-Age Machines in Highway Work

The Ministry of Road Transport and Highways (MoRTH) has decided to formally adopt Automated and Intelligent Machine-aided Construction (AIMC) for highway projects, aiming to accelerate execution and ensure timely completion. In line with this, MoRTH announced that the Indian Roads Congress (IRC) will develop new guidelines based on feedback from contractors and concessionaires actively involved in these projects.So far, MoRTH has sanctioned at least 16 highway projects where innovative construction equipment will be deployed. Additionally, the ministry is awaiting Cabinet approval for 10 more ..

Next Story
Infrastructure Energy

SECI Extends Green Ammonia Bid Deadline to 30 June

The Solar Energy Corporation of India (SECI) has extended the bid deadline for its green ammonia tender to 30 June 2025. The tender was issued under the SIGHT Scheme - Mode 2A, Tranche I, to supply 7.24 lakh tonnes annually to 13 fertiliser plants.As the implementing agency under the National Green Hydrogen Mission, SECI will enter long-term offtake agreements with selected producers, providing 10-year commercial certainty to encourage market development for green hydrogen derivatives. ..

Next Story
Infrastructure Urban

India Launches First Maritime Sector NBFC

Union Minister Sarbananda Sonowal recently inaugurated Sagarmala Finance Corporation Limited (SMFCL), India’s first NBFC dedicated to the maritime sector. Formally registered with the RBI on 19 June 2025, SMFCL evolved from Sagarmala Development Company Limited.It will address financing gaps for ports, MSMEs, startups, and maritime institutions, supporting shipbuilding, renewable energy, cruise tourism, and education. The move aligns with India’s Maritime Amrit Kaal Vision 2047 and aims to catalyse innovation and sustainable logistics growth.Union Minister of State Shantanu Thakur emphasis..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?