Proposed lowering of stamp duty in certain states can mean big savings for homebuyers2 min read 18 Mar 2020, 10:24 PM IST
A reduction of 3% in stamp duty, as proposed in Karnataka, means a benefit of ₹60,000 for someone buying an apartment for ₹20 lakh
Stamp duty is not uniform across states and varies for different type of documents
On 6 March 2020, deputy chief minister and finance minister of Maharashtra Ajit Pawar proposed a concession in stamp duty rate for property registration, while presenting the state budget for financial year 2020-21. “It is necessary to promote the state’s real estate sector in the wake of slowdown. Hence, I propose to give 1% concession, for the next two years, in the stamp duty and other related charges applicable on registration of documents," Pawar said.
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