Stamp duty on Affordable homes may be abolished

Affordable houses may soon be exempt from stamp duty, which varies between 4% and 8% of the transaction value.

Stamp duty is a state subject, with the state government fixing the rate and collecting the duty.

Affordable housing is exempt from service tax, which is around 5.35% of a property’s selling price. Ministry had already taken up with the finance ministry the need to continue the exemption under GST.

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