Stamp duty reduction to encourage property registration

Subscribe to Oneindia News

New Delhi, Mar 26 (UNI) Reduction of stamp duty and municipal charges on property transactions by Delhi government will encourage registering property deals at full value, PHD Chamber Secretary General Krishan Kalra said.

''High stamp duty has always been a major deterrent for people to declare actual value in the sale deeds and consequently the involvement of black money in property transactions. 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,'' Mr Kalra said.

The fact that stamp duty in case of woman is one third less than that in case of men will also give a fillip to more property being purchased in the name of women, added Mr Kalra.

The chamber also called upon the Delhi government to consider revision of circle rates of land from time to time in order to reflect the market value of property transactions.

Mr Kalra complimented Dr A K Walia for announcing major e-governance initiatives for superior and efficient delivery of public services, including announcement to commence on-line payment of Trade Tax and use of digital signatures for online filing of returns; introduction of web-based e-procurement system in six major departments of Delhi government; and launching project 'Jeevan' in public-private partnership for payment of various bills, taxes, registration of birth and death certificates, application of water and electricity connections, booking of Community Halls/Barat Ghars through citizen service centres.

However, for better traffic management, the chamber has called upon the state government to implement wholesome solution of Intelligent Transport System (ITS) as well. ITS is also expected to result in standardization of vehicle movement in the city and much better traffic discipline.

UNI PDT SR PK RK2137

Please Wait while comments are loading...