Punjab Government Revamps Vehicle Registration Process in Budget 2024-25

The government of Punjab has recently made significant changes to the vehicle registration process in the region through the Budget 2024-25. These changes, the first in almost seventy years, are designed to streamline fees and simplify the registration process for cars and bikes.

Under the new system, motorbikes and scooters now have a fixed registration cost of Rs. 1,500. Additionally, a new 10% annual charge has been implemented for any vehicle registration transfer within a decade.

For cars with engines under 1,000cc, the registration fee is set at Rs. 20,000. There is also a 10% annual fee for transfers within the first ten years. Vehicles with engines up to 2,000cc will pay a registration fee equal to 0.02% of the purchase price, which aligns costs more closely with market values. On the other hand, vehicles exceeding 2,000cc will be subject to a registration charge equivalent to 0.03% of their purchase price.

These changes in the vehicle registration system by the Punjab government aim to standardize fees and simplify the process for vehicle owners. By introducing fixed costs for motorbikes and scooters and aligning registration fees with engine sizes and purchase prices for cars, the government seeks to create a more transparent and efficient registration system for the benefit of all residents.