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Date: 10-Jul-2023 Category: Extra Ordinary State: Union Government Country: India

Increase of Transfer Duty

Issued by Government of The National Capital Territory of Delhi · Urban Development Department

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Executive Summary & Key Takeaways

What it means

  • The gazette notification issued by the Government of the National Capital Territory of Delhi announces an increase in the transfer duty rates by the Municipal Corporation of Delhi (MCD).

Key Changes

  • The transfer duty for female (including third gender) is increased from 2% to 3%.
  • The transfer duty for male and others (any other entity) is increased from 3% to 4%.
  • The increased rates are effective from the date of publication of the notification (July 10, 2023).
  • The increased rates apply only to registration of instruments with an amount more than Rs. 25 lakhs.
  • There is no change in transfer duty for instruments with a registration amount up to Rs. 25 lakhs.

Impact Analysis

Stakeholders

  • Financial Institutions: May need to adjust loan amounts to accommodate increased registration costs for borrowers.

Suggested Action Items

  • Review and update financial models and forecasts to incorporate the increased costs associated with property transfers for amounts exceeding Rs. 25 lakhs.

Key Entities Referenced

Delhi Municipal Corporation (MCD): The entity responsible for increasing the transfer duty rates. Delhi Municipal Corporation Act, 1957: The Act under which the MCD derives its power to modify transfer duty rates; specifically, Section 147(2)(b). Department of Urban Development, Government of NCT of Delhi: The department that published the notification.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33002/99 REGD. No. D. L.-33002/99 भारत सरकार GOVERNMENT OF INDIA एस.जी.-डी.एxxलx.G-अID.H-1x1x0x 72023-247216 SG-DLxx-ExG-1ID1E0x7x2x0 23-247216 असाधारण EXTRAORDINARY प्राजधकार स े प्रकाजित PUBLISHED BY AUTHORITY स.ं 222] दिल्ली, सोमवार, िुलाई 10, 2023/आषाढ़ 19, 1945 [रा.रा.रा.क्ष.ेदि. स.ं 141 No. 222] DELHI, MONDAY, JULY 10, 2023/ASHADHA 19, 1945 [N. C. T. D. No.141 भाग IV PART IV राष्ट्रीय रािधानी राज्य क्षत्रे दिल्ली सरकार GOVERNMENT OF THE NATIONAL CAPITAL TERRITORY OF DELHI ubZ fnYyh] 10 tqykbZ] 2023 F.13(479)/UD/LB-I/Duty on Transfer/2023/CD : 021726408/249.— ( ) ubZ fnYyh] 6 tqykbZ] 2023 A&C(HQ)/TD/2023-24/1464.—fnYyh uxj fuxe vf/kfu;e] 1957 dh /kkjk 147¼2½¼ch½ }kjk iznRr 'kfDr;ks a dk iz;ksx djr s gq,] fnYyh uxj fuxe LFkkukra j.k 'kqYd dh nj] efgyk ¼rhljs fyax lfgr½ ds ekeys esa 2% ls 3% vkSj iq:’k vkSj vU; ¼;kuh dksbZ vU; bZdkbZ½ ds ekeys esa 3% ls 4% c<k+rk gS tks fd bl vf/klwpuk ds izdk'ku dh frfFk ls izHkkoh gkxs kA ;g o`f} 25 yk[k :i;s ls vf/kd jkf'k okys fy[kr iathdj.k ds 4421 DG/2023 (1)2 DELHI GAZETTE : EXTRAORDINARY PART IV] fy, ykxw gS] ysfdu 25 yk[k :i; s rd dh iathdj.k jkf'k oky s fy[kr ij LFkkukarj.k 'kqYd es a dksbZ cnyko ugha fd;k x;k gSA dq.kky d';i] vkbZ vkj ,l] dj fu/kkZjd ,oa lekgrkZ vkns'k }kjk] d-s ,l- eh.kk] vkbZ , ,l] fo'k’sk lfpo ('kgjh fodkl) DEPARTMENT OF URBAN DEVELOPMENT New Delhi, the 10th July, 2023 F. No. 13(479)/UD/LB-I/Duty on Transfer/2023/CD: 021726408/249.—The following is published for general information and necessary action:- MUNICIPAL CORPORATION OF DELHI (Assessment and Collection Department) NOTIFICATION New Delhi, the 6th July, 2023 No. A&C(HQ)/TD/2023-24/1464.—In exercise of the powers conferred by Section 147(2)(b) of the Delhi Municipal Corporation Act, 1957, the Municipal Corporation of Delhi hereby increases the rate of Transfer Duty from 2% to 3% in case of female (including third gender) and from 3% to 4% in case of male & others (i.e. any other entity) with effect from the date of publication of this Notification. This enhancement is applicable for registration of instruments having the amount more than Rs.25 lakhs but there is no change in the Transfer Duty on instruments having registration amount upto Rs 25 lakhs KUNAL KASHYAP, IRS, Assessor & Collector, MCD By Order, K. S. MEENA, IAS, Spl. Secy. (UD) Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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