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Chandigarh govt likely to waive off stamp duty on property transactions

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Claimed sources to www.propertykhazana.com says, Chandigarh Administration has cut 1% in stamp duty on auction activities of permanent land in the city. Now, it is 5% and stamp duty is told as universal revenue where an individual disburse on the registered cost of the land. It has to be compensated in case of both the commercial and housing land in Chandigarh from scythe onwards. As much as the urban housing land is concerned its presence collection prices will be Rs. 19,200 per Sq yard and the purchasers have to pay 6% to the government on the total cost of the land. Even if, the amount of the stamp duty is paid by the perpetrator of the land, deed is mainly reliant on the presence collector costs. However, the UT Government is in view to boost up the prices shortly to carry them at parity with the market prices.
Source also revealed that the Government is also thinking regarding the cancellation of stamp duty to support more and more land aficionados. The progress will also put off the camouflage of market cost of the land. But, still the government is waiting for the endorsement from the administration and at present, the stamp duty in Chandigarh is the slightest in the area. Discussing regarding the Punjab and Haryana, both the states are charging 6% of the auction activities. For more information logon to www.propertykhazana.com
Source: NIMMA BENGALURU

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