The Registration Department has issued a circular, detailing the procedure to be followed during the registration of property. Between June 9 and 13, sub-registrar offices will accept cash from those who register property instead of insisting on demand draft or online payment, even if the amount exceeds ₹1,000.
“Usually, registration officials cannot accept more than ₹1,000 in cash. They have to get a demand draft or accept payment online. But most of the persons registering property on Friday would have obtained a demand draft a day before. Those people can pay the additional amount in cash,” said an official.
Even if a sale deed of a property was registered for a higher amount on or before June 8, the same property will be registered for an amount 33% lower that the old guideline value after June 9.
However, if an agreement to sell the property was registered for a particular amount on or before June 8 as per the old guideline value, then the charges have to be paid as per the old guideline value.
The new guideline value will be applicable only if the previous agreement is cancelled.
The decrease in guideline value will be applicable only for land and not for the value fixed for buildings by the PWD.
Officials will also implement the appeal provisions under Section 47 A(1) of Indian Stamp Act as per the old guideline value.
Detailed guidelines have also been given for the conversion of agricultural land to house sites, officials added.
