Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
The Haryana Cabinet has approved a significant reduction in stamp duty and registration charges for Economically Weaker Section (EWS) beneficiaries purchasing eligible dwelling units under the Pradhan Mantri Awas Yojana–Urban (PMAY-U) 2.0. Under the revised policy, beneficiaries buying homes of up to 60 sq m will pay a nominal INR 500 each towards stamp duty and registration charges per conveyance deed. The decision, approved under the chairmanship of Chief Minister Nayab Singh Saini, aims to lower transaction costs for affordable housing beneficiaries and support the state's efforts to improve home ownership among economically weaker households under the Centre's 'Housing for All' initiative.
The Haryana Cabinet has approved a reduction in stamp duty and registration charges for Economically Weaker Section (EWS) beneficiaries purchasing eligible dwelling units under the Pradhan Mantri Awas Yojana–Urban (PMAY-U) 2.0. The decision was taken during a Cabinet meeting chaired by Chief Minister Nayab Singh Saini earlier this week as part of measures to promote affordable home ownership across the state.
Under the revised framework, EWS beneficiaries purchasing dwelling units of up to 60 sq m under PMAY-U 2.0 will pay a fixed stamp duty of INR 500 and a registration fee of INR 500 for each conveyance deed. The concession applies specifically to eligible housing units covered under the central government's affordable housing scheme and is intended to reduce the financial burden associated with property registration.
At present, conveyance deeds in Haryana attract a stamp duty of 5%, in addition to a 2% additional duty. A rebate of 2% is available when the property is registered in the name of a woman. Registration charges are currently levied on a slab basis, subject to a maximum of INR 50,000. The revised policy replaces these charges with a nominal fixed fee for eligible PMAY-U 2.0 beneficiaries.
The state government said the measure is aimed at lowering transaction costs and making affordable housing more accessible for economically weaker households. It added that the concession supports the objectives of the 'Housing for All' mission by reducing upfront expenses associated with home ownership.
The revised concession applies to conveyance deeds executed for eligible PMAY-U 2.0 dwelling units and forms part of the state's broader affordable housing initiatives. By reducing registration-related costs, the government expects to improve access to formal housing for low-income households while encouraging greater participation in the central housing programme.
The decision was among several policy measures approved by the Haryana Cabinet during its meeting, which also considered proposals relating to higher education, governance reforms, industrial development and electric mobility. However, the reduction in stamp duty and registration charges is expected to directly benefit eligible homebuyers under PMAY-U 2.0 by easing the cost of property acquisition and supporting affordable housing delivery across the state.
Source - PTI
Advertisement
Facebook
Whatsapp
