Assam realty front suggests government to lessen tax burden on housing
To decrease the burden of tax on housing properties, Assam Real Estate and Infrastructure Developers’ Association (AREIDA) has suggested the state government to combine the tax into a whole of 10 per cent which includes VAT, service tax, stamp duty, registration, labour cess and NOC fees.
The state is already witnessing a hike in property registration fee for apartments and vacant land.
They have asked the government to rationalise sale deed around Rs 500 and the combined burden of taxes for sale deeds be kept within 5 per cent of the cost of the property.
AREIDA is also worried and unhappy over Guwahati Metropolitan Development Authority (GMDA) charging additional one per cent for NOC issued for sale permission.
To read more real estate news:
New building construction rules for Guwahati real estate
Property registration fee high in Guwahati
Source: The Times of India
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