MP govt reduces cess on stamp duty on urban property transactions from 3% to 1%

A cess of one per cent on stamp duties, reduced from earlier 3 per cent, will be levied on all urban area property transactions, said Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Monday.

A cess of one per cent on stamp duties, reduced from earlier 3 per cent, will be levied on all urban area property transactions, said Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Monday.

"Economic activities were almost totally halted due to COVID-19 lockdown. The real estate business was affected. Keeping this in view, a cess of 1 per cent on stamp duties, reduced from earlier 3 per cent, will be levied on all urban area property transactions. This will be applicable till December 31," Chouhan told media on Monday. (ANI)