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

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

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

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

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

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

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

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

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“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.

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