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

govt. -to-remove-stamp-duty-on-loan-subsidy

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%
2EWS10 Lakh60 Thousand
3LIG15 Lakh90 Thousand
4MIG20 Lakh1.2 Lakh
2. Raipur – Stamp Duty – 05%
2EWS4/89 Lakh1.5 Lakh
3LIG7.33 Lakh2 Lakh
3.  Bhopal – Stamp Duty – 9.3%
2EWS7.3 Lakh63.6 Thousand
3LIG13.96 Lakh1.26 Lakh
4MIG22 Lakh1.99 Lakh

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