Many people were not registering even after buying the flat. They wanted to avoid the cost of registration in the event of Corona. But in the last budget, the state government had announced exemption of stamp duty for a certain period. Its results were found in Hatena. Flat enrollment has suddenly increased.
how much increase
Its effect is being seen in Kolkata metropolitan area. Data from real estate advisory firm Knight Frank shows that till July-September, there has been a 122% increase in registrations in the current financial year as compared to the previous year. Of these, in September alone it increased by about 60 per cent.
The trend of buying big flats has also increased slightly. Many people are spending a little more because of the opportunity for a tax break. There has been a nearly 403% increase in registration for flats of 1,000 sq ft or more.
Seeing the success of other states, West Bengal took the decision
Some states like Maharashtra were earlier exempted from stamp duty on short-term property registration. Those states benefited from this. The West Bengal government took a decision from that observation. It was announced in the budget in July last year.
How long the discount?
According to the budget announcement in July, a rebate of 2% will be given on registration by October 30. Earlier, prices below and above Rs 1 crore were offered at different rates in both these segments. In two cases, a rebate of 2% is being given till October 30. Apart from this, the circle rate of the property has also been reduced by 10% in some places.
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