West Bengal: Stamp duty sops extended till June 30

KOLKATA: The Bengal government has extended relief on stamp duty and registration fee for the sixth time. The extension will be up to June 30, 2024.

The finance department had issued a circular on September 29 that considering the economic slowdown due to the pandemic, the government had considered the necessity for remission of stamp duty temporarily by 2% up to January 31, 2022 through an order on October 30, 2021.

The 2% reduction in stamp duty and 10% cut in circle rates were initially offered till October 30, 2021. "Now, in the interest of extending relief to home buyers, it has been decided to extend the benefits. Real estate consultancy Knight Frank had earlier reported that 1,02,743 apartments have been registered in the KMA since the introduction of stamp duty rebate in 2021. The total revenue of the state from stamp duty and registration this fiscal has been estimated at Rs 7,473 crore.

Credai West Bengal president Sushil Mohta said, "The extension will help revive the industry." President of Credai Bengal Siddharth Pansari said, "This should bring much cheer to home buyers."