October 3, 2023: A rebate of 2% on stamp duty and 10% on the circle rate of property has been extended till June 30, 2024, according to a recent government order issued by the West Bengal state government. The order was issued on September 29, 2023.
The relief was first given by the West Bengal government in 2021 owing to the economic slowdown caused by the coronavirus pandemic. The relief was supposed to end on September 30, 2023. It was extended for a second time till June 30, 2024.
This time it was extended to provide relief to home-buyers, as per notification number 1281-FT dated October 30, 2021 and notification number 1282-FT dated October 30, 2021 till June 30, 2024.
As per media reports, CREDAI West Bengal president and Merlin Group chairman Sushil Mohta, said, “The real estate industry has been struggling since the COVID-19 pandemic. However, it managed to survive because of the continuous support from the state government in terms of the 2% rebate in stamp duty and 10% rebate in circle rate. The extension of the rebate will give a much-needed boost to the industry.”
He added that the state government’s support is helping us keep the costs down for consumers. The extension of the rebate will further encourage real estate buyers to close their transactions and boost the sector significantly.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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