Stamp Duty on Affordable Homes May be Exempted Soon

stamp-duty-on-affordable-homes-may-be-exempted-soon
Mar 08, 2017 Share

When the homebuyers are already excelling on the implementation of RERA act by May 1 and rejoicing on its optimistic note, another anticipation of the abolition of stamp duty on affordable homes have made them exult yet more.

After M Venkaiah Naidu, the union minister for Urban Development and Housing, had asked the State Government for letting affordable houses off stamp duty, the Confederation of Real Estate Developers’ Associations of India (CREDAI) has been ensured about the fact that there would be no net tax acceleration in the real estate industry, especially for the reasonable homes.

Affordable housing is now expected to let off the hook which comes around 5.35% of a property’s selling price. With the housing ministry stating the need for the exemption under GST, the finance ministry has also agreed with the rate which goes neutral with the revenue, not the one that exceeds the same.

However, although there is a number of confusions and debates around, still the exclusion of stamp duty that is managed by the State Government is believed to be a great help for the entire industry. The state ministry is about to introspect into the necessary yardsticks and put aside legacy issues to ensure the culture of integrity and transparency.

Share Your Comment 0 Comments

Investment Opportunities

  • Vascon and Clover Builders brings to you Forest County spacious 2 bhk and 3 bhk new launching apartments in Kharadi, An 18 acres l...
  • ₹ 66.72 L - ₹ 73.27 L
    nyati-elysia-ii
    Nyati Elysia II, New launch residential project at Kharadi, Pune. Developed by Nyati Group offering 2 BHK flats in Kharadi Pune. T...
  • ₹ 65 L - ₹ 85 L
    godrej-rejuve
    Godrej Properties Launching Pune’s first community dedicated to Healthy living, Godrej Rejuve at Keshavnagar. A remarkable p...
  • Duville Riverdale Heights, by Duville Estates, presents an array of 1 bhk & 2 bhk new launch flats at Kharadi, Pune. An ideal...
  • Price on Request
    purva-silversands
    Purvankara presents Purva Silversands 1, 2, 3 and 4 bhk apartments project in Keshav nagar, Pune which is a project spread across...
  • Price on Request
    vascon-forest-edge
    Vascon Forest Edge developed by the Vascon Group, the under construction residential apartments in kharadi with wide range of amen...
  • Price on Request
    goel-ganga-platino-iii
    Ganga Platino III , by Goel Ganga Developments presenting premium 2 & 3 BHK XL Residences in Kharadi, Pune. Luxurious livin...
  • ₹ 62.6 L - ₹ 98.06 L
    geras-misty-waters
  • Price on Request
    forest-county
    Vascon and Clover Builders brings to you Forest County 2 bhk and 3.5 bhk under construction apartments in kharadi, An 18 acres lu...
Disclaimer - The particulars contained on the mentions details of the Projects/developments undertaken by the Company including depicting banners/posters of the Project. The contents are being modified in terms of the stipulations / recommendations under the Real Estate Regulation Act, 2016 and Rules made thereunder ("RERA") and accordingly may not be fully in line thereof as of date. You are therefore required to verify all the details, including area, amenities, services, terms of sales and payments and other relevant terms independently. FourrWalls does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the information contained herein. You are advised to conduct an independent verification before entering into any transaction.
Read More...