Haryana Abolishes Stamp Duty on Small Plots to Spur Housing

Haryana's Chief Minister Nayab Saini announces the abolition of stamp duty on small residential plots. The change affects properties under various housing schemes and is aimed at promoting transparent property transactions. Saini addressed opposition concerns about increased collector rates, asserting that the increases are modest and data-driven.

Haryana Chief Minister Nayab Saini announced on Wednesday the abolition of stamp duty for residential plots up to 50 square yards in urban areas and up to 100 square yards in rural areas. This measure takes immediate effect, impacting properties purchased under key housing initiatives.

The decision follows a calling attention motion by the opposition INLD regarding recent hikes in collector rates. Saini countered opposition claims of misleading the public, emphasizing that the increase was modest and based on a rational formula applied to only 72.01% of 2,46,812 assessed segments.

Despite complaints, Saini justified the data-backed adjustments, affirming their alignment with market realities. Collector rates, he noted, often lag behind actual market prices, thus enabling fair pricing and reducing black market dealings. The chief minister also highlighted that no new registration taxes have been introduced by the government.

(With inputs from agencies.)