While property buyers across Haryana have welcomed the recent government decision to reduce the stamp duty on conveyance deeds and sale deeds from 6% to 5%, it has brought no relief to residents of Gurgaon. The district administration has imposed a new levy of 2% of the value of property to generate revenue for the recently-created Gurgaon Municipal Corporation (GMC).
Therefore, the buyer has to now pay 7% of the transaction instead of 6% earlier. On an average, Gurgaon generates a daily revenue of about Rs 2 crore from stamp duty and registration fee. However, there is some relief for women buyers who have to pay one per cent less than men i.e. 6%.
According to officials of the revenue department, the better deal for women buyers is already having an impact. They pointed out that in places like Gurgaon and Faridabad, or for that matter any NCR city of Haryana, the property transactions are in crores. In case, a plot costs Rs 1 crore, the buyer would like to get it registered in the name of a woman since he will save at least Rs 1 lakh on account of stamp duty. So, we are witnessing a major shift in the pattern of property ownership with women becoming landlords, said a senior official.
More : timesofindia.indiatimes.com
Send an E-Mail for Gurgaon Property Enquiry!
Related News from Gurgaon
Gurgaon earns Rs.4 bn through stamp duties
CHANDIGARH: Haryana's industrial and IT hub Gurgaon has earned Rs.4 billion ($90 million) through stamp duties in fiscal 2005-06. This marked an increase of Rs.1.38 billion over the previous fiscal. Revenue department officials said Gurgaon district had set a record of sorts among the 19 districts in the state in generating revenue from stamp duties. Gurgaon, adjoining the national capital New Delhi, is expected to further add to its kitty by the time the financial year closes March 31, a state government spokesman said. The officials said most of the stamp duty revenue came from property deals. Gurgaon and its adjoining industrial estates have emerged
New circle rates for properties in Delhi
NEW DELHI: Under-valuation of commercial and residential properties in the Capital during sale and purchase is all set to be curbed with the Delhi Government preparing itself for implementation of the minimum circle rates regime for registration of properties from October this year on the pattern of what is presently prevailing in Noida, Ghaziabad and Gurgaon. According to highly placed sources, the matter, pending for months due to differences between the Delhi Government and the Municipal Corporation of Delhi on the stamp duty rate to be charged for registration, has been sorted out amicably and will now be placed before
Vatika Township : Gurgaon
BOOKING OPEN NOW Vatika Group has come up with a residential project in Gurgaon called Vatika Township on the National Highway - 8 near to Haldiram and opposite to GIVO factory. The project is expected to come in the 400 Acres of Land with a Highway frontage of 900 Fts. It will have residential plots of sizes of 300, 360, 400, 500, 800 and 1000 Sq yards. The project has come into the market on 8th of October 2005. The company says that this project will be good from investment point of view since the development of the city is moving
DLF Cyber Green
DLF Cyber Green is spread across an area of 900,000 sq.ft. The complex constitutes five blocks / towers each scaling to 10-18 storeys. Located just off National Highway-8 at the entrance of Gurgaon this INTELLIGENT IT ENABLED WORKSPACE is well connected to domestic and international airports and south, central and west Delhi. Designed by the renowned architect Mohit Gujral the architecture incorporates large, efficient floor plates, wide column span and high floor-to-floor clearances, for optimal space utilization and provides necessary facilities like multi-cuisine food court with a seating capacity of 700, health club and ATMs for the ease and
ABW Casablanca
ABW Casablanca is a Projects launched by ABW which is a delhi based real estate group. The lisence for the projects has been obtained. The Layout Plans are as follows: 2 Bed room + Servant >>>>> Click here for Layout 3 Bed room + Servant >>>>> Click here for Layout 4 Bed room + Servant >>>>> Click here for Layout See the Site Plan >>> Here See the Falt Specification >>>>> Here Prices and Payment PlanBasic Sale Price 2600 Inaugural Discount 100 External Development Charges 140 Infrastructure Developments Charges 60 Down Payment Rebate on 85% 9% Preferantial Location Charges