The 2% reduction in stamp duty and 10% cut in circle rates were initially offered for a limited period up to October 30 by the state government as part of this year’s budget sops.

 

West Bengal Government on Tuesday announced further extension of stamp duty and circle rate sops for home buyers for two more months. During the administrative meeting in north Bengal the extension for two more months till 31-December-21 was announced.

 

The 2% reduction in stamp duty and 10% cut in circle rates were initially offered for a limited period up to 30-October-21 by the state government as part of this year’s budget sops. This has led to a 75% spike in Kolkata in the quarter ending in September over the same period last year.

 

CREDAI West Bengal, the apex body for real estate developers, and CREDAI Bengal had earlier written to the state government, seeking an extension of the sop. The President of CREDAI West Bengal, welcomed the move by saying that it will bring more revenue to the state coffer and will be a huge relief for home buyers and that this will also give a big boost to the real estate industry.

 

Source: https://realty.economictimes.indiatimes.com