FACTORS THAT DETERMINE PROPERTY REGISTRATION OR LAND CHARGES

• New Property or Old Property: The type of property you want to register determines the property registration fees. Generally, you will be paying a high registration fee to get a brand new property registered. This makes sense as the registration fee is a percentage of your total property cost. The total property cost of a new property is usually higher than an old property. The registration charges will be low when you register a not-so-new or an old property as the value of the property would have depreciated from the time it was built.
• Commercial and Residential Property: The property registration charges for commercial properties are higher than the fees charged to register a residential property. This is mainly because commercial properties are built with a business motive and it requires additional amenities unlike residential properties like swimming pools, escalators, and exclusive parking.
• Geographical Factors: The location of the property highly determines the registration fees. If your property is located in metro cities or developed towns, you will be paying high registration fees. As property registration charges are charged by the state government, the state you are buying the property plays a crucial role as well.
• Type of Transfer: If you are buying a property from a non-family member, you will be required to pay the standard registration fee. However, if you are transferring the title of the property to a family member as a “Gift Deed”, the registration charges are very low.
• Amenities: As mentioned earlier, you will be required to pay a high registration fee if you have amenities like a clubhouse, community hall, library, outdoor play area, swimming pool, cargo lift, or gym. Under the amenities-valuation method, you will be required to pay more for every extra amenity you have in your building.
• Proximity to the Airport, Bus, or Railway Station: Did you know that you will be charged a high registration fee if your location is close to an airport, bus station, or railways station? Yes, that’s correct!
• Gender of the Owner:If the property is registered in a woman’s name, the government will give you a discount on the registration fees. So, if you have a female family member, you can choose to get the property registered in her name to reduce the registration charges.