Own A 15 Year Old Vehicle? Pay 8 Times More To Re-new It’s Registration!
It hasn’t been too long since the Government of India released the scrappage policy for old vehicles and now we have another new rule aligning with it. The government is constantly trying to release incentives and disincentives to discourage the usage of old vehicles on the roads. The government has now revised the rates for renewing the registration of 15-year-old vehicles.
New charges for re-registration
The current charge of renewing the registration of a 15-year-old car is ₹600. However, the new rate is now ₹5,000. Similarly, the charge of renewing a 15-year-old bike is now ₹1,000 as opposed to the current ₹300. The renewal of a bus or a truck older than 15 years old will also cost its owners 8 times more than what it is now. Hence, buses or trucks older than 15 years will set you back by ₹12,500 for their renewal from April. Medium-sized goods vehicles or passenger motor vehicles older than 15 years will cost ₹10,000 to be renewed.
Vehicle fitness tests have also been made mandatory since the launch of the National Automobile Scrappage Policy by the Prime Minister in August this year. The policy will kick in from April 1, 2023, and one can expect similar measures taken for other vehicles from June 2024. In case of a delay in the renewal of the fitness certificate, an additional fee of ₹50 will be levied each day after the expiry of the certificate. These new rules may be called the Central Motor Vehicles (23rd Amendment) Rules, 2021, the ministry said.
Official statement
The ministry stated that the revised rates for vehicle registration renewal were a part of the national vehicle scrappage policy. In order “to have a system of incentives and disincentives to nudge vehicle owners to discard old and polluting vehicles, which have higher maintenance and fuel consumption costs. It added that there will be a waiver of the fee for issuance of the certificate of registration for a new vehicle if it is purchased against the authority of the Certificate of Deposit (CoD) issued by a Registered Vehicle Scrapping Facility for a vehicle being scrapped.
This article was first published on Motoroids - Own A 15 Year Old Vehicle? Pay 8 Times More To Re-new It’s Registration! - Auto News From India.