A 'taxing' deadline: Eight-day window for stamp duty waiver

Ludhiana: The Punjab govt has formally notified a one-time stamp duty waiver for the conversion of industrial plots from leasehold to freehold, but the move has drawn flak from industrialists. Though the policy was announced on March 30, the official notification was released only today, leaving business owners with just eight days to apply before the April 30 deadline.The waiver, issued by the dept of revenue, rehabilitation and disaster management, applies to lease, conveyance, and sale deeds for allottees under the state's July 2025 industrial policy. To benefit, plot holders must submit applications by April 30 and ensure the deed is registered within six months of receiving the conversion letter.Industrialists across the state have termed the window "unreasonable" and are demanding an extension. They cited a lack of clarity regarding rates, the time required to arrange bank documents, and the upcoming weekend as major hurdles. Approximately 12,000 leasehold plots in Punjab, including 2,400 in Ludhiana under Punjab Small Industries and Export Corporation (PSIEC), are eligible for the scheme.During a meeting at the CII office on Chandigarh Road; an estate officer with the corporation, Ankur Chaudhary, urged units to apply quickly and promised official assistance. However, business leaders like Badish Jindal, president of the World MSME Forum, have called for the deadline to be pushed to June to allow for proper financial evaluation.Industry representatives, including Mandeep Singh and Dharam Singh Sekhon, argued that 15 to 50 additional days are necessary to handle the paperwork. They noted that without a reasonable extension, a large section of the industry might miss out on the long-term financial benefits of regularising their property titles.
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