New Delhi: Planning to buy a property in Delhi, think again! Delhi government has decided to hike registry fee for properties worth Rs 50 lakh or more.

Now, Sheila Dikshit government has decided to charge 1 percent as the registry fee for such properties. The state Cabinet has already approved the proposal.

It may be noted that till now maximum of Rs 50,000 was charged on any property worth more than Rs 50 lakh, but now according to the new proposal, if a property is worth Rs 1 crore then one percent of it i.e. Rs 1 lakh will be charged as the registry amount.

The Government believes that the new rates will help augment its annual revenue by nearly Rs 100 crore and will enhance the treasury amount accrued from property registration to Rs 200-225 crore.

It may be noted that last year the state government was able to earn only Rs 115 crore from registry fees.