Mumbai : Stamp Duty for 3 years instead of one. There will be rule of relief in duty
An attempt has been made in the budget of the state government to revive the real estate which has been facing problems for the last two years due to Corona. By announcing the Abhay scheme, where the government has prepared a plan to increase its income, provisions have also been made in the budget to attract investors. An announcement has been made in the budget to increase the investment of capital in the real estate sector. The period of exemption from stamp duty for investors has been increased from one year to three years. Till now, investors investing in property used to get back the stamp duty amount on selling the property within one year, in the budget provision has been made to refund the stamp duty amount if the investor sends the property within three years instead of one year. The amount of duty can be claimed by the inventor or adjusted with the new buyer.
Abhay scheme has been announced in the budget to solve the pending cases of stamp duty for years. Under the Abhay scheme, customers who have The amount of stamp duty has not been deposited, to waive the penalty to such customers has decided. People can complete the process of their property registration by paying stamp duty without penalty from 1st April to 30th November 2022 According to Dr. Niranjan Hiranandani, NAREDCO Vice Chairperson, stamp duty without penalty. The government’s Abhay scheme for filling will prove to be a very effective scheme. From this Will get additional revenue.
Old cases pending for years will also be settled. of naredco west According to Vice President Hitesh Thakkar, with the extension of the exemption period for investors in stamp duty, once again the investors will come forward to invest in the sector and its benefits will be available to all.
According to Anand Gupta, chairperson of Housing and RERA Committee of Builders’ Association of India, through the budget, the government has tried to revive the slowdown-hit real estate sector. This initiative of the government will yield positive results.