The government has reduced the registration fee for land and flats. The written price has been reduced from 2 percent to 1 percent.
A notification has been issued from the law and justice department of the law ministry on Thursday with this amendment.
According to the notification, if the price written in the document does not exceed Tk 10,000, a registration fee of 1 percent of the land price will have to be paid. In this case the minimum fee has been fixed at Tk 100. Even if the written price is more than tk 10 thousand, the registration fee will be one percent. However, no minimum fee has been fixed in that case.
So many days registration fee had to be paid at the rate of 2% of the value of the document.
However, if the price written in the document is not more than taka five thousand, the minimum fee was taka 100.
In case of land and flat registration, stamp duty was 3 per cent, value added tax (VAT) was 3 per cent and local government tax was 2 per cent.
Last December, the stamp duty was reduced from 3 percent to 1.5 percent.