Gujarat Eases Stamp Duty Burden for Housing Transfers

Gujarat's CM Bhupendra Patel's new policy alleviates housing transfer costs for lower and middle-income families by waiving up to 80% of stamp duty for specific cases. This decision comes under the Gujarat Stamp Act, 1958, significantly reducing financial burdens during property transfers involving societies, associations, and non-trading corporations.

In a landmark decision, Gujarat Chief Minister Bhupendra Patel has announced a significant relaxation of stamp duty charges for housing transfers affecting lower and middle-income groups. According to the Chief Minister's Office, this measure is designed to offer substantial financial relief, waiving up to 80% of the payable duty.

The exemption, granted under Section 9(a) of the Gujarat Stamp Act, 1958, aims to alleviate the financial pressure on middle-class families involved in property transfers. The Chief Minister's office stated that this move reflects the administration's sensitivity to the economic challenges faced by these groups.

This policy ensures that only 20% of the original duty amount, plus any applicable penalties, will be collected. Consequently, the total payment will not exceed the duty previously required, safeguarding citizens from additional financial burdens. The provision specifically applies to transfers via allotment letters and share certificates for societies, associations, and non-trading corporations, as per the release.

(With inputs from agencies.)