Stamp duty: Bill passed to provide relief to investors

As per existing norms, if an investor buys and sells the flat within a year, the investor gets concession in stamp duty. However, most real estate projects are getting completed in three years and the number of investors availing the benefits is very minimal.

“In the wake of the pandemic, the investors need to be given some relief. If the current one-year duration is extended to three years, then not just the real estate sector will get a boost but there will also be a rise in the sale of the houses which will lead to increasing the government’s revenue,” said Revenue Minister Balasaheb Thorat.