Property prices in Delhi to go up, transfer duty hiked

Buying property in Delhi to get costlier after a 1% hike in transfer duty on properties above ₹25 lakh

Buying property in Delhi is set to get expensive as the unified Municipal Corporation of Delhi

has decided to hike transfer duty by 1 per cent on properties priced above ₹25 lakh across the city

Officials said after the hike, the transfer duty will be 4% for men and 3% for women.

Currently, the transfer duty on sale and purchase of property in the national capital is 3% for men and 2% for women.

The decision was taken in a meeting on Tuesday where a proposal to increase the transfer duty by 1 per cent was moved.

The proposal was passed by the special officer of the Municipal Corporation of Delhi (MCD)

who has been entrusted with the power to run the civic body till the new House is elected.

“A proposal was moved before the special officer in capacity of the standing committee to hike transfer duty on properties priced above ₹25 lakh by 1 per cent.