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11:18 a. M.
Friday 11 September 2020
Books – Ahmed Massad:
The Media Center of the Council of Ministers confirmed that what was circulated on social media pages about the obligation of citizens to pay 7% of the value of the property as a tax for registration in the property registry is incorrect.
Today, Friday, the Ministry of Justice reported that the fees for real estate registration in the real estate month have been reduced to reach a maximum of 2,000 pounds for the real estate unit, regardless of its size or economic value, in accordance with the reforms it issued Law No. 83 of 2006 on documentation fees, referring to the state’s effort to encourage citizens to officially register their property.
In a related context, the real estate registration fees were changed to a fixed amount rather than the rate proportional to the value of the property, as the registration fees for built real estate, space land and the like became 500 pounds for the property whose surface does not exceed 100 square meters and 1000 pounds for what does not exceed its area. In 200 square meters, 1500 pounds for an area not exceeding 300 square meters and 2000 pounds for any property whose area exceeds 300 square meters.
The Ministry indicated that the objective of the amendment is; Encouraging people to officially register their property rather than resorting to the usual methods that have led to an unprecedented increase in the number of property disputes.
