As per the sources available with www.propertykhazana.com, Delhi Govt. had proclaimed a cut in the stamp duty on land rates by 2% and the progress has been curtained to entrée funds below JNNURM as the programs required states not to surpass the stamp duty for more than 5%. Stamp duty on the lands registered in the name of men will now stand at 6% while it will be 4% for Women respectively. Government is taking into account in doubling-up its collection all the way through stamp duty in 2007. First installment comprising Rs. 298 Crores from the JNNURM funds have been owed to Delhi by the Union Urban Development Ministry.
Sources revealed at www.propertykhazana.com says that this has paved the path for significant savings for an entity for purchasing land and with esteem to new stamp duty he/she will be capable to save more or less Rs. 60,000 for the land cost Rs. 30 Lakhs. So, the savings will go on boosting with the rise in land rates and it will be to Rs. 1 Lakhs for one that costs Rs. 50 Lakhs and Rs. 2 Lakhs for the land costing Rs. 1 Crore. Cut in the stamp duty is not estimated to change the total income collection and for that cause, the Govt. conferred a notice for circle prices in the capital. Circle prices will however be helpful to turn the deceit and incorrect follows in land deals and registering the lands at whopping amount.
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