FM Nirmala Sitharaman said 3 crore additional houses under Pradhan Mantri Awas Yojana (PMAY) in rural and urban areas had been announced and for this, the necessary allocations were being made.
Sitharaman proposed that govt put in place policies for promoting rental housing markets. Govt will also facilitate rental housing with dormitory-type accommodation for industrial workers. This will be done in public-private partnership mode.
Sitharaman said states charging high stamp duties on purchase of properties would be encouraged to bring down the rates, and asserted that this reform would be a key component in urban development schemes.
She asked states to consider further lowering stamp duties for properties bought by women. “We will encourage states, which continue to charge high stamp duty to moderate the rates for all, and also consider further lowering duties for properties purchased by women. This reform will be made an essential component of urban development schemes,” Sitharaman said.
Stamp duty is a tax imposed by state govts on the sale of property/property ownership. It is payable under Section 3 of Indian Stamp Act, 1899. The duty is payable at the time of registration of property if a property is acquired by way of a sale deed/conveyance deed/gift deed. pti