Maharashtra reduces transfer fees on sale of VIP flats on collector’s land
The Maharashtra government has reduced the rates to be charged as transfer fees on sale of flats and apartments on collector’s landin the VIP category, comprising bureaucracy, judiciary and scientists.
In case of the VIP category the transfer fees ranged from 18%, 8% to 6% of the Ready Reckoner (RR) Rate, depending on whether the sale/transfer was carried out within 5, 10 or 15 years respectively. This has been revised to 5%, 3% and 3%.
In case of the non-VIP category the transfer fees ranged from 9%, 4% to 3% of the RR Rate for the same period. This has been revised only for the first five years and brought to 5% from 9%.