MP News: The state government is now going to amend the rule made to give exemption in stamp duty. The urban bodies will not be able to charge stamp duty separately from the institution which is exempted from stamp duty by the government. At present, there is a provision for charging stamp duty separately in the rule, which the government is going to abolish.
Stamp duty is exempted by the government to attract investment and set up separate entities. There is also a provision for exemption in the auction of unusable properties. Due to different arrangements, there are problems many times, in view of this, the government has decided to amend the rules and regulations of the municipality. This amendment bill will be presented in the winter session of the Vidhansabha.
In this case, officials of the Urban Development and Housing Department say that there is a provision in the Act that stamp duty should be charged on the transfer of any immovable property that comes within the limits of the urban body. This system has also been implemented in the municipality and the city council.
Central institutions and industrial units investing in the state are exempted from stamp duty under the incentive policy by the government. On the other hand, additional fee is charged from them in the urban body. In order to eliminate this contradiction, the rules will be amended by presenting an amendment bill in the winter session of the Vidhansabha. After the amendment, the urban bodies will not be able to charge additional fees from those institutions which have been exempted by the government.