Charges for issuing Encumbrance Certificate too increased
Gifting land or an apartment is no longer a simple affair with the nominal fee of Rs.1,000. According to a new GO issued by the State government, gifts now should be registered at a fee of 0.5 per cent of the registration value.
The fee has also been prescribed as 0.5 per cent of settlement, exchange, agreement of sale-cum-general power of attorney, and development agreement-cum- general power of attorney, among others.
For other agreements relating to pawn/pledge/hypothecation, partition, deed amendment, opening of sealed cover of wills etc also the earlier fee that ranged from Rs.100 to Rs.500 has been increased to a uniform Rs.5,000.
The all-important Encumbrance Certificate required by banks and housing finance institutions for home loans has become dearer. Against Rs.120 earlier, the present fee for conducting search and issuing the EC is Rs.200 for less than 13 years. For more than 13 years, it is Rs.500.
The increase has come into force from August 1. “But it may take a few days for implementation as the software is yet to be updated,” said District Registrar B. Lakshminarayana.
The fee for registration of marriage under the Hindu Marriage Registration Act rules has been increased from a humble Rs.5 that has been in implementation for a long time to Rs.200.
“There used to be hardly any registration of Hindu marriages earlier. But now with the number of those going abroad going up, the marriage certificate has become mandatory for passport and visa,” Mr. Lakshminarayana told The Hindu on Wednesday.
At the Joint Sub-Registrar’s office at the Super Bazar here about 600 marriages were registered last year. In the other Sub-Registrar office it was about 50 a year and in the rural areas hardly any registrations were done.