Gujarat Govt may reduce stamp duty and registration fee

Gandhinagar: The Gujarat government is considering reducing stamp duty and registration fees on property purchases while implementing revised jantri rates from April 15.

According to a TOI, A finance bill listing out revised rates is expected to be introduced in the upcoming budget session of the Gujarat assembly. The real estate sector has been seeking a reduction in stamp duty from 4.9% to 1% in the affordable housing segment and a 50% reduction in all housing segments. An expert committee chaired by former union finance secretary Hasmukh Adhia had recommended a reduction in stamp duty and registration fees to boost housing demand.

It is also noteworthy that Government revenue from stamp duty and registration fees recorded a 19% rise in 2022 as compared to the previous year. DeshGujarat