The government of Punjab has introduced significant changes to automobile registration fees in its Budget 2024-25, marking the first major amendments in nearly seventy years. These changes aim to standardize fees, streamline the registration process, and align costs more closely with market values. For motorbikes and scooters, the registration fee has been fixed at Rs. 1,500, providing a uniform fee structure for smaller vehicles across the region. Additionally, a new annual 10% charge has been introduced for vehicle registration transfers within the first decade of ownership, adding an ongoing fee to ownership transfers during this period.
In terms of cars, vehicles with engines under 1,000cc will now pay a registration fee of Rs. 20,000 to the Excise Department. Similar to motorbikes, transfers within the first decade of ownership will incur an annual 10% fee, contributing to ongoing costs associated with vehicle ownership transfers. For vehicles with engines ranging from 1,000cc to 2,000cc, the registration fee will be calculated as 0.02% of the vehicle’s purchase price. This proportionate fee structure aims to better reflect the market value of these vehicles at the time of registration.
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Vehicles exceeding 2,000cc in engine capacity will face a higher registration charge equivalent to 0.03% of their purchase price, reflecting their higher value and aligning registration costs accordingly. These changes are intended to modernize the vehicle registration system, ensure fairness in fee structures, and potentially increase revenue for the provincial government. They represent a significant update to existing regulations and are expected to impact vehicle owners and buyers across Punjab.
