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Other system level configs are same as PT-Registry as mentioned above.
Mutation calculator:
Calculation Logic
The calculation logic for mutation fee depends on the usage type of property (RESIDENTIAL , NON RESIDENTIAL etc ) and current market value of the property.
Usage type | Minimum Market value | Maximum Market Value | Rate Percentage | Fixed amount | Calculation Type |
Residential | 0 | X lacs | A% of CMV | INR G | FLAT |
Non -Residential | 0 | X lacs | E% of CMV | INR Q | RATE |
Residential | X+1 Lacs | Y Lacs | B% of CMV | INR H | FLAT |
Non -Residential | X+1 Lacs | Y Lacs | B% of CMV | INR H | RATE |
Residential | Y+1 Lacs | >Y+1Lacs | D% of CMV | INR L | FLAT |
Non -Residential | Y+1 Lacs | >Y+1Lacs | C% of CMV | INR I | RATE |
If the current market value (CMV) of the property comes in between minimum and maximum market value range of billing slab and the usage type of property match with the usage type for that billing slab then the mutation fees for that property is the amount mentioned in that particular billing slab.
Further there are two calculation types which are FLAT and RATE which has to set by state/ulb for their billing slab for property mutation. If the calculation type is set as FLAT then mutation fee is the fixed amount mentioned in billing slab which is used for the property.
If the calculation type is set as RATE the Mutation fee is X% of current market value, where X is percentage rate mentioned in billing slab which is used for the property.
Other factors influencing calculation can be :
Ownership type
Property type
Locality
Rebate and Penalty
When the property is registered for mutation/transfer of ownership and all the document is submitted, then the mutation fees has to pay within specified period of time of property mutation registration date. If a person fails to pay the fees amount before the deadline date, then some penalty charges has to pay. Penalty charge is Y% of tax amount. The penalty percentage is set by the state/ulb. If a person pays the fees amount within the specified month of property mutation registration date, then a certain amount is rebated from tax amount. Rebate charge is Z% of tax amount. The rebate percentage is set by state/ulb.
Note: For mutation fees calculation, document date value (means the date at which property is registered for mutation), market value of property, usage type value of property is essential.
API contract
Postman collection for property mutation billing slab
https://www.getpostman.com/collections/02965abc6345b5e1a633
Postman collection for property mutation calculatorhttps://www.getpostman.com/collections/e044d1f64feeafe82f70