Govt. to Remove Stamp Duty on Home Loan Subsidy under Affordable Housing

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A good for those people who are interested in buying affordable homes because the Central government has requested to all the state governments to remove stamp duty on home loan subsidy after purchasing a home under Affordable Housing.

In this regard, the Central Urban Development Minister Venkaiah Naidu has written a letter to all the state governments to remove the stamp duty on loan subsidy. The stamp recovery on sale purchase of any house, land and property is the subject of state governments. The different states are charging 4% to 12% stamp duty on any sale purchase of house, land and property.

In a meeting of CREDAI, the Urban Development Minister Venkaiah Naidu said that the Centre will decide not to increase tax in the housing sector. He said with the inclusion of real estate sector in GST, it will help to all industry.

However, the affordable housing is already got service tax exemption. This is the 5.35 of the selling price. Naidu also informed that he said finance ministry to continue this exemption.

Venkaiah Naidu said that the state is not ready to include this in GST. So this matter can go forward after discussion.

 1.  Jaipur – Stamp Duty – 06%
1 Category Cost Exemption
2 EWS 10 Lakh 60 Thousand
3 LIG 15 Lakh 90 Thousand
4 MIG 20 Lakh 1.2 Lakh
2. Raipur – Stamp Duty – 05%
1 Category Cost Exemption
2 EWS 4/89 Lakh 1.5 Lakh
3 LIG 7.33 Lakh 2 Lakh
4 MIG ————– ———-
3.  Bhopal – Stamp Duty – 9.3%
1 Category Cost Exemption
2 EWS 7.3 Lakh 63.6 Thousand
3 LIG 13.96 Lakh 1.26 Lakh
4 MIG 22 Lakh 1.99 Lakh

News Source: http://www.patrika.com/news/raipur/raipur-affordable-housing-scheme-1526220/

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