Buying property in Delhi to get costlier As Transfer Duty Hiked By 1%

Buying property in Delhi can be costly now. The Integrated Municipal Corporation of Delhi (MCD) has decided to increase the transfer duty by one percent on the purchase of property above Rs 25 lakh in the national capital. Official sources gave this information on Wednesday. Officials said that the transfer duty for men will be four percent and for women, three percent. The decision was taken in a meeting held on Tuesday, in which a proposal to increase the transfer fee by one percent was presented.