The Ahmedabad Municipal Corporation has updated the property ownership transfer rates after a long gap.In an attempt to bring the rates in sync with the present economic environment. The civic body has announced an increase in the fees. The new charges will be implemented from January 16, 2023.
The property ownership transfer fees will pinch more to the high value transfers. Where 0.025% of the sale deed value of a residential property was charged as fees, the same is revised to 0.1% to 0.2% depending upon the value slab.
Similarly, for commercial properties, the charges would be between 0.2% to 0.4% of the sale deed value depending on the value slab. It used to be 0.050% of the sale deed value
The AMC has put up a structure divided into value slabs of Rs 25 lakh, Rs 50 lakh, Rs 1 crore, and Rs 1.5 crore. For residential properties the fees would be Rs.1000 for the slab of upto Rs.25 lacs, Rs. 2000 for the slab of Rs 25 lacs to Rs.50 lacs and 1% for the slab of Rs.50 lacs to Rs. 100 lacs. The rates pertaining to the commercial properties are double the rates for residential properties in respective slabs.
The changes have been made to take care of the increase in the civic body’s ownership transfer application processing cost. The new charges proposed by the revenue committee have been approved by the AMC’s standing committee.