Stamp duty
Each beneficiary of Pimpri Chinchwad Municipal Corporation’s housing scheme for economically weaker sections (EWS) will save Rs 36,000 as the state government has waived the stamp duty on conveyance. Now that the stamp duty on registration of EWS houses built under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme has been waived, the beneficiaries [...] Continue Reading »
Even though the real estate sector has not been doing very well, the Andhra Pradesh government is planning to revise the market values of agricultural and urban lands from August 1. The move is taken to increase the revenue to the department of Registration and Stamps by raising the registration fee and stamp duty, which will [...] Continue Reading »
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 [...] Continue Reading »
The auditor general (AG) of Pune government has said that the Pune Municipal Corporation (PMC) has failed to collect proper stamp duty from various builders of the city. In their audit report of the slum rehabilitation housing projects in Pune it id found that payment of stamp duty and royalty charges from the contractors had [...] Continue Reading »
The Delhi government has planned to lift the restrictions on sale and purchase of properties in over 1,200 unauthorized colonies. The regularization process of the unauthorized properties in Delhi has started, and once it is completed, there will be no obligation in Sale and purchase of properties in those colonies. Almost 40 lakh people are [...] Continue Reading »
The West Bengal Government has legalized the sale of housing land in the satellite township of Salt Lake on the eastern fringes of the city. According to the legalization plan, the leasehold plots will be made into freehold ones following the payment of a transfer fee of Rs 5 lakh a cottah. The decision will [...] Continue Reading »
The Gautam Budh Nagar district administration has proposed to hike the circle rates of property in Noida by 10-30%. The authority of the finance department has granted a preliminary approval to the new rates. Circle rate is the minimum rate at which stamp duty is charged on transaction of a property. And the authority has [...] Continue Reading »
Documented property registration in Mumbai, Thane and Pune divisions fell in the last financial year. As per a rough estimate by a real estate analysis firm, at least 40,000 flats have remained unsold in Mumbai and Navi Mumbai areas. The actual number could be higher than that. Though, the amount of stamp duty collected by [...] Continue Reading »
The Reserve Bank of India has brought about many new directives and guidelines for taking Home Loans. The most controversial decision was the exclusion of stamp duty, registration fees and all other allied charges while calculating the loan to value when taking a home loan. The loan to value is the loan amount taken against [...] Continue Reading »
As the state government of Maharashtra has proposed a hike in the stamp duty of the property transaction, the buyers of the residential and non-residential properties in Mumbai will have to pay a five per cent stamp duty on the market value of the property. Earlier, the stamp duty in Mumbai was charged at Rs [...] Continue Reading »
