CM had announced 2 per cent exemption on stamp duty in Budget

With this approval, now citizens will have to pay just 4 per cent stamp duty instead of 6 per cent on the lease deed of residential units/flats up to Rs 50 lakh in multi-storey buildings constructed by housing boards, state undertakings and urban bodies.

Jul 29, 2022 - 11:03
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CM had announced 2 per cent exemption on stamp duty in Budget
CM had announced 2 per cent exemption on stamp duty in Budget

• Also exemption in stamp duty and registration fee on lease deeds of plots allotted/sold by urban bodies to senior citizens
• Till now, exemption was available to general public and senior citizens only on sale deeds/conveyance deeds of multi-storey houses built by private sector

Jaipur. Chief Minister Shri Ashok Gehlot has approved the proposal to give exemption on lease deeds of residential units/flats of multi-storey buildings constructed by government bodies in urban areas.

With this approval, now citizens will have to pay just 4 per cent stamp duty instead of 6 per cent on the lease deed of residential units/flats up to Rs 50 lakh in multi-storey buildings constructed by housing boards, state undertakings and urban bodies. Along with this, a provision has been made to reduce the stamp duty from 6 per cent to 5 per cent and registration fee from 1 per cent to 0.5 per cent on lease deeds issued for the plots allotted/sold by urban bodies for senior citizens.

It is to be noted that in the budget 2022-23, the Chief Minister had announced 2 per cent concession on stamp duty in residential units up to Rs 50 lakh in multi-storey buildings in urban areas, but so far this was applicable only on sale deeds/conveyance deeds of multi-storey residential buildings constructed by the private sector. In the case of residential buildings constructed by government bodies, the exemption was not applicable as lease deeds are issued in place of sale deeds. Similar situation was being faced in the exemption given to senior citizens in stamp duty and registration fee. After the approval of this proposal by Shri Gehlot, the above concessions will be available on the lease deeds issued in the cases of multi-storey buildings constructed by government bodies and also on the lease deeds issued in favour of senior citizens.

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Pooja Padiyar Journalist & Wirter