GMRL proposes 0.5% hike in stamp duty
Gurugram, March 28 -- The Gurugram Metro Rail Limited (GMRL) has proposed an additional 0.5% surcharge on stamp duty for property transactions in the city.
GMRL also sought an additional 35% share of the transit-oriented development (TOD) fees collected by the Haryana government for the extra floor area ratio (FAR) for properties which are located around 500-800 metres away from metro alignments, officials said on Friday.
While the developments could make buying property in the city slightly expensive, government officials said the proposals were still under discussion. An official said the proposal was discussed on Friday at a committee meeting chaired by Haryana chief secretary Anurag Rastogi in Chandigarh.
Currently, the Haryana government charges stamp duty between 5 to 7 percent of the property value in Gurugram, depending on the property's location and the buyer (a 2 percent rebate for female buyers).
For infrastructure development it imposed a 2 percent cess on the stamp duty charged from property buyers, of which 1 percent goes to the Municipal Corporation of Gurugram (MCG) and the other 1 percent goes to the Gurugram Metropolitan Development Authority (GMDA).
A senior Haryana government official present in the meeting, however, said the proposal to impose is in the initial stages. The finance and revenue departments will examine these details before any decision is made....
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