Rajasthan Hikes Cess On Stamp Duty

The state finance department of Rajasthan increased the cow cess on stamp duty to 20% from 10% and added the funds will also be used for fighting natural or man-made calamities like draught, flood, epidemic and public health exigencies. With this increase the surcharge on stamp duty goes up to 30% including the Swachh cess of 10%. The real estate industry in the state reacted strongly saying that they had expected some relief from the state for the revival of the sector which has been decimated by the lockdown. The increase come after the government had increased stamp duty to 6% from 5% in the February state budget. With the surcharge increase of 10%, the total stamp duty has gone up to 8.8% from 8.2%. This increase will not benefit anybody including the government. Already the market is in a limbo-like state. Everybody wants the real estate sector to revive, including the government, the industry and the people engaged in the sector. The surcharge increase will only delay any chances of revival," said Sunil Jain, President of Credai-Rajasthan.