The reduced registration fee for land, flat will be effective from July 5, says to a gazette notification from the Law Ministry.
Earlier on Monday, the ministry, in a letter, reduced the registration fee to 1 percent from 2 percent of the total price of land or flat, which would bring the effective registration cost down to 10 percent, from 14 percent before December last year.
The registration fee, however, cannot be less than Tk100.
A buyer of land or flat worth Tk1 crore will now have to pay Tk10 lakh as the registration cost, which includes stamp duty, registration fee, VAT (value added tax) and local government tax, which was Tk14 lakh the previous year.
The buyer will pay 1 percent of the property price as registration fee, 1.5 percent as stamp duty, 3 percent as VAT and 2 percent as local government tax.