Stamp duty exemption up

Ceiling lifted from Rs 5,000 to Rs 25,000 to ease burden on poor

Published: 16th May 2012 02:29 AM  |   Last Updated: 02nd June 2012 10:24 PM   |  A+A-

CHENNAI: With a view of cushioning the poor and downtrodden from the hike in guideline values, Chief Minister J Jayalalithaa on Tuesday raised the exemption ceiling on stamp duty and registration charges from Rs 5,000 to Rs 25,000.

States like Maharashtra, Gujarat, Karnataka, Kerala and Rajasthan have enacted their own legislation for imposing stamp duty and continue to make amendments to it. Tamil Nadu, however, has been following the age-old Central Act enacted in 1899, Jayalalithaa said, and pointed out that if the State wishes to make amendments, it has to get the consent of the President every single time. To avoid this delay, Tamil Nadu will enact its own Stamp Duty Act soon, she said.

The CM also announced that new buildings would be built for 16 Commercial Taxes Offices at 10 places, at a cost of Rs 12.50 crore.

Recalling her initiatives to modernise the Revenue Department’s offices, she said construction of offices for 52 sub-registrar offices at a cost of Rs 25 crore would begin soon.

During the current year, Integrated Registration Department complexes would also be constructed in 17 places .

These complexes would house 27 new Sub-Registrar offices. Apart from this, separate buildings would be built for 48 more Sub-Registrar offices. All of this would be carried out at a cost of Rs 41.70 crore.

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