Property News

West Bengal government gives 2% stamp responsibility rebate; slashes circle charges by means of 10%

West Bengal government on July 7 decided to offer a stamp responsibility rebate of 2% for registration of deeds and slashed circle costs through 10% because it provided its Rs 3.08- lakh- crore finances within the meeting for financial 2021-2022.

Presenting the budget, country enterprise minister Partha Chatterjee, who had placed the vote-on-account in the residence in February, said the authorities have proposed to reduce stamp duty with the aid of per cent for registration of deeds and shrink circle quotes via 10%. Finance minister Amit Mitra is sick.

“We all are aware that because of COVID-19 pandemic our kingdom at the side of the United States of America as an entire is reeling beneath monetary recession. This has resulted in curbing the shopping strength of humans. The actual estate area also has been greatly affected because of this disaster. in this important state of affairs, the national authorities are proposing to permit comfort to the registrant public with the aid of lowering the charge of stamp duty for registration of deeds affecting sale/lease of land/residence. Sale and so forth,” the budget report stated.

“I advocate reducing the rate of stamp responsibility through 2% from the present rate for such deeds. The circle price/market cost for registration of deeds for land/residence and flat and so on has been proposed to be decreased via 10%,” it said.

Both the centres can best be availed if the registration is finished within October 30, 2021, it said.

The modern-day fee of stamp obligation in the country is 7%.

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