Developers have urged the to reduce stamp duty and abolish surcharge in the budget to revive fortunes of real estate sector. At present, 30% surcharge is imposed on stamp duty, including swachh cess of 10%.
After first lockdown, both consumers and real estate Industry faced a setback as stamp duty was increased to 6% from 5%. Also, with 1% registration fee and 30% other taxes, the total stamp duty had gone up to 8.8%.
The state government
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