Govt. Considers to Remove Stamp Duty on Loan Subsidy under Affordable Housing

Under the Affordable Housing Scheme named as Pradhan Mantri Awas Yojana , after the loan subsidy on the purchase of cheap houses, stamp duty can now be completely eliminated. Union Urban Development Minister Venkaiah Naidu has written a letter to all the State Governments in this regard and asked to forgive Stamp Duty. Collection of stamp duty on the sale of houses, land and other properties is the subject of the states. Various states charge it from 4 percent to 12 percent. Union Minister Venkaiah Naidu said in the meeting of CREEDI (Confederation of Real Estate Developers’ Association) here that the center will ensure that there is no increase of tax in the housing sector. In the field of Affordable Housing, especially after GST is implemented. He said that inclusion of the real estate sector in GST would greatly help the entire industry.

Release from service tax

Affordable housing is exempt from service tax. It is 5.35 percent of the sale price. Naidu told that he has asked the Ministry of Finance to continue the discount in GST

Proceed only through discussions

Venkaiah said that because the state is not ready to include it in GST. Therefore, this matter can be extended only through discussion

Cities selected under this

In these major cities this will benefit
1.Jaipur – Stamp Duty 06 percent

Category Price (s) discount (no)
EWS – up to 10 lakhs -60 thousand
LIG up to 15 lakh -90 thousand
MERG up to 20 lakhs -1.2 lakhs

2.Raipur- Stamp Duty 05 percent

Category Price (s) discount (no)
EWS-4/9 million 1.5 million
LIG-7.33 lakhs 2 lakhs
MERG – –

3.  Bhopal- Stamp Duty 9.03 percent

Category Price (s) discount (no)
EWS – 7.05 lakh 63.6 thousand
LIG- 13.96 Lac 1.26 Lakh
MERG- 2.2 million 1.99 lakhs

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