Lower stamp duty for affordable housing
With stamp duty of up to 10 per cent in certain states, the registration charge burden on home buyers increases. Therefore, Union Government has asked the states to reduce stamp duty on registration of houses for poor as it aims to push affordable housing projects across the country. “The stamp duty was originally collected to maintain the registers, now it has become a source of revenue. Charging this on affordable housing people will be a burden," Urban Development Minister Venkaiah Naidu said. The government has selected as many as 2,508 cities in 26 states under the 'PradhanMantriAwasYojana' for providing affordable houses to the urban poor.
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