Gujarat CM Patel waives 80 per cent stamp duty for lower and middle-income housing transfers

Gandhinagar (Gujarat) [India], June 30 : Gujarat Chief Minister Bhupendra Patel has taken a major revenue-related decision to provide substantial relief in payable duty amounts for housing transfers concerning the state's lower and middle-income families and individuals, said a release from the Chief Minister's Office (CMO).
According to this important decision, in cases where societies, associations, and non-trading corporations carry out property transfers through allotment letters or share certificates, up to 80 per cent of the payable duty will be waived. Thus, only about 20 per cent of the original duty amount will be collected.
This exemption will be granted under Section 9(a) of the Gujarat Stamp Act, 1958.
Because of provisions introduced by the state government's revenue department under the Stamp Act, the financial burden that previously fell on the middle class in such transfer cases will now be significantly reduced. Chief Minister Bhupendra Patel, displaying sensitivity towards the concerns of these lower and middle-income groups, has adopted a constructive approach, according to the release.
As per this decision, only an amount equal to 20 per cent of the original duty, along with applicable penalties, will now be recovered.
By reducing the originally payable stamp duty, the state government ensures that the total amount paid -- including any penalties -- will not exceed what was earlier payable as duty alone in property-related matters.
"Thanks to Chief Minister Bhupendra Patel's positive and citizen-centric approach, citizens will not face any additional financial burden by way of penalties in such transfer cases," the release said.
It is important to note that the provisions to be issued under the notification pursuant to this decision will apply exclusively to transfers carried out through allotment letters and share certificates by societies, associations, and non-trading corporations.