West Bengal CM Mamata Bannerjee broke good news to the people of the state: reduction of stamp duty by 2 per cent and 10 per cent reduction in circle rates. The reduction will continue for another two months.
As pronounced in the state’s annual budget, the reduction in stamp duty and circle rates should be in force only up to October-end. However, the CM extended the concessions up to December 31. The measures led to increase in the sale of houses remarkably in the July-September quarter by 75 per cent. To avail the concessions, buyers were seen making a bee line to the offices of sub-registrars. Therefore, CREDAI West Bengal has urged the CM to extend the concessions further. Therefore, Mamata extended the benefits two more months.
CREDAI West Bengal President Bushel Mehta hailed the CM’s decision, which helps the state government to earn more revenue at the same time gave a big relief to buyers.
