Stamp duty on houses lowered for EWS

Bhubaneswar: In a move to ease their financial burden, the state cabinet on Monday approved a sharp reduction in stamp duty and registration fees for Economically Weaker Section (EWS) beneficiaries of Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 as well as other state-run affordable housing schemes in such areas.The decision aligns with Union housing ministry guidelines mandating the states to cap such charges below 1% for dwelling units up to 60sqm under PMAY-U 2.0. Currently, the stamp duty and registration fees in Odisha range between 6% and 7%. Under the new provision, the charges will be reduced to 0.6%-0.7%, depending on the gender of the property owner.The move is expected to boost housing uptake and ensure smoother implementation of the Centre’s flagship urban housing programme in the state.