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Monday, July 22, 2024

Rajasthan govt revises stamp duty rates

The government revised the stamp duty rates under the Section 9 of the Rajasthan Stamp Act, 1998. According to a notification, the state government would now charge a stamp duty of 0.5% on the consideration amount for lease/sale deeds executed under the chief minister’s Jan Awas Yojana 2015 or for Pradhan Mantri Awas Yojana.

On dwelling units for low-income groups, the state government would charge a stamp duty of 1% of the consideration rate. For lease duties issued or executed by the state government, local authorities, public enterprises or any other government bodies, in respect to land allotted or sold by them or land placed at the disposal of the local authorities, the stamp duty would be determined at the rates specified under Article 33 of the Schedule of the Rajasthan Stamp Act 1998 on the amount of consideration charged on account of allotment or sale or Rs 100, whichever is higher.

For lease deeds submitted for registration after revalidation, the government would charge 120% of the stamp duty payable on the original lease deed.

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