Registration fee for land, flat reduced
Published : Sunday, 5 July, 2020 at 12:00 AM Count : 214
The government has reduced the registration fee to 1 percent from 2 percent of the total price of land or flat, which will be effective from today (Sunday).
The Ministry of Law, Justice and Parliamentary Affairs recently issued a circular in this regard.
Now, buyers have to pay only 1 per cent of the document price of their lands or flats as registration fee. It was two per cent earlier.
For an example, a buyer of land or flat worth Tk1crore will now have to pay Tk10 lakh as the registration cost, which includes stamp duty, registration fee, VAT (value added tax) and local government tax, which was Tk14 lakh before the circular.
The buyer will pay 1 percent of the property price as registration fee, 1.5 percent as stamp duty, 3 percent as VAT and 2 percent as local government tax.
However, the minimum registration fee, the circular said, would be Tk100 in case of land price below Tk10,000.