Rajasthan government has announced its budget for 2018-19. CM Raje has presented budget in Rajasthan Assembly on 12 February. In the budget, BJP government has announced relief to real estate sector. Know more about these benefits.
Considering all the benefits, the reduction in DLC rate by 10 percent is the biggest. The registry will be affordable after this reduction. Hence, the existing rates of agriculture, residential and commercial land will be reduced. Vasundhara raje budget
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Under the Amnesty Scheme, 100% exemption from interest and penalty payable on stamp duty allowed if the stamp duty due is deposited up to May 31. Vasundhara raje budget
At present, there is two percent stamp duty on EWS accommodation and 3.5 percent on LIG housing. Both have been reduced to one percent and two percent respectively.
Valuation of agriculture, residential and commercial land by the DLC will have no increase in the year 2018-19. Vasundhara raje budget
With a view on slowdown in real estate, five percent additional concession on valuation of residential and commercial plots of area more than 3000 square meters.
In rural areas, valuation of the agriculture land up to 1000 square meters to be done at the rate of agriculture rate instead of the rate of residential land to help farmers to sell or buy land for agriculture purposes in rural areas. Vasundhara raje budget
There will be 25 percent concession in valuation of the land under patta of mixed land use issued by development authorities. Vasundhara raje budget
To maintain parity in all similar documents, stamp duty on loan agreement, equitable mortgage and mortgage without possession was reduced to 0.15%.
There will also be relief in stamp duty for pattas given by gram panchayat and urban local bodies to poor people free of cost.
The maximum limit of registration fees on conveyances reduced from Rs 4 lakh to Rs 3 lakh.
There is also reduction on stamp duty on documents related to articles of association of company. It has been reduced from 0.5% to 0.15% with minimum of Rs 5000 and maximum of Rs 25 lakh.
Registration fees on lease deed up to 30 years also to be reduced to 20% of the amount of stamp duty charged.
