Chandigarh: The Council of Ministers, which met under the Chairmanship of Chief Minister, Nayab Singh Saini here today, approved a proposal regarding exemption or fixation of Stamp Duty and Registration Fee under Pradhan Mantri Awas Yojana-Urban 2.0.
The present exemption/fixation of Stamp Duty and Registration Fee under Pradhan Mantri Awas Yojana-Urban 2.0 related to dwelling units up to 60 sqm registered under PMAY-U 2.0 for EWS beneficiaries.
The concession in Stamp Duty and Registration Fee is a targeted measure to facilitate affordable home ownership for economically weaker households under this time-bound flagship scheme.
As per the proposal conveyance deeds executed for such dwelling units, a nominal Registration Fee of Rs. 500 per deed will be levied. Furthermore, the Stamp Duty under Article 23-A of Schedule 1-A of the Indian Stamp Act, 1899, as applicable to Haryana, has also been reduced to a nominal amount of Rs. 500 per deed.
The move aims to reduce the transaction cost and financial burden on EWS beneficiaries, thereby promoting the objective of “Housing for All” under PMAY-U 2.0.
Notably, at present, Stamp Duty on conveyance deeds in Haryana is chargeable at 5 percent under Article 23-A of Schedule 1-A of the Indian Stamp Act, 1899, along with 2 percent additional duty. A rebate of 2 percent is available where the conveyance is executed in favour of a woman. Registration Fee is chargeable on a slab basis, subject to a maximum of Rs. 50,000.
In view of the objective of promoting affordable housing for EWS beneficiaries under PMAY-U 2.0, grant of concession in Stamp Duty and Registration Fee on eligible conveyance deeds has been approved.
