What is the fee for mutation of property in Indore?
The fee for mutation of property in Indore is 0.30 percent of the current market value for non-agricultural property and 0.50 percent of the current market value for land. This is in addition to the registration fee of 10.5 percent of the agreement value or the guideline value, whichever is higher.
There is also a late fee of Rs. 50 per year for every year that the mutation is delayed after 90 days from the date of transfer of ownership.
To calculate the total fee for mutation of property in Indore, you will need to know the following:
- The current market value of the property
- The agreement value of the property, if any
- The date of transfer of ownership
Once you have this information, you can use the following formula to calculate the total fee:
Total fee = Mutation fee + Registration fee + Late fee (if applicable)
For example, if the current market value of the property is Rs. 1,000,000, the agreement value is Rs. 1,200,000, and the date of transfer of ownership is 180 days ago, then the total fee for mutation of property would be calculated as follows:
Mutation fee = 0.30% of Rs. 1,000,000 = Rs. 3,000
Registration fee = 10.5% of Rs. 1,200,000 = Rs. 126,000
Late fee = Rs. 50 per year * 90 days / 365 days = Rs. 12.33
Total fee = Rs. 3,000 + Rs. 126,000 + Rs. 12.33 = Rs. 129,012.33
Please note that this is just an example, and the actual fee for mutation of property may vary from time to time depending on the specific circumstances of your case. It is always advisable to consult with the local sub-registrar office for the latest information.
Adcocate J.S. Rohilla (Civil & Criminal Lawyer in Indore)
Contact: 88271 22304