Stamp Duty Abolition Sparks Debate in Haryana

In a significant policy shift, Haryana Chief Minister Nayab Saini announced the abolition of stamp duty on residential plots up to 50 square yards in urban areas and 100 square yards in rural regions. The decision, effective immediately, aims to enhance transparency and streamline property transactions.

Saini, addressing the opposition's concerns about recently increased collector rates, argued that only 72.01% of the state segments saw a modest 10% hike. He emphasized that this adjustment mirrors actual market values, countering opposition claims of undue public burden.

Opposition member Aditya Devi Lal criticized the increased rates as unaffordable for common citizens. Saini rebutted these claims by highlighting that the current administration's rate increases are less severe than previous regimes, with a focus on reducing black money in real estate transactions.

(With inputs from agencies.)