'Lower stamp duty may encourage people declare full value'
Welcoming the decision of the Delhi government to reduce stamp duties and municipal charges, the PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday said that it would encourage people to declare full value of property.
By PTI |
NEW DELHI: Welcoming the decision of the Delhi government to reduce stamp duties and municipal charges, the PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday said that it would encourage people to declare full value of property.
The Delhi government has reduced the rate of stamp duty and municipal charges on property transactions to 6 per cent for men and to 4 per cent for women.
"Reduction in duty would encourage more and more buyers and sellers of property to register their sale deeds at full value and thus help in eradication of black money in property," said PHDCCI secretary general Krishna Kalra.
Also, he added, lesser stamp duty for women will provide a fillip to purchase more property in the name of women.
However, he said, the government needs to revise the circle rates of land periodically to reflect the market value of property transactions.
He also appreciated the state government's major e-governance initiatives like online payment of trade tax and use of digital signatures for filing returns for better delivery of public services.
The Delhi government has reduced the rate of stamp duty and municipal charges on property transactions to 6 per cent for men and to 4 per cent for women.
"Reduction in duty would encourage more and more buyers and sellers of property to register their sale deeds at full value and thus help in eradication of black money in property," said PHDCCI secretary general Krishna Kalra.
Also, he added, lesser stamp duty for women will provide a fillip to purchase more property in the name of women.
However, he said, the government needs to revise the circle rates of land periodically to reflect the market value of property transactions.
He also appreciated the state government's major e-governance initiatives like online payment of trade tax and use of digital signatures for filing returns for better delivery of public services.
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