Gujarat Eases Stamp Duty Burden for Property Transfers

The Gujarat government has announced a significant relief measure for property transfers, offering an 80% waiver on stamp duty. This move, aimed at alleviating financial pressure on middle-income families, pertains to property dealings through allotment letters or share certificates by housing societies, associations, and non-trading corporations.

Chief Minister Bhupendra Patel approved the decision under Section 9(a) of the Gujarat Stamp Act, 1958, which seeks to reduce the duty payable for property transfers among the state's lower and middle-income segments. According to an official release, only 20% of the original duty, plus any applicable penalties, will now be collected.

The government clarified that the waiver applies exclusively to specified transfers executed via allotment letters and share certificates. This initiative ensures financial relief by preventing excess stamp duty and penalties, thus shielding citizens from additional financial burdens in such cases.

(With inputs from agencies.)