#RealtyNewsRoundup: CREDAI Wants States To Scrap Stamp Duty
Description
Developers' body CREDAI has urged state governments to do away with the stamp duty on property to eliminate multi-point taxation after the introduction of the Goods anDevelopers' body CREDAI has urged state governments to do away with the stamp duty on property to eliminate multi-point taxation after the introduction of the Goods and Services Tax regime.d Services Tax regime. In a press statement, CREDAI said that the GST regime did not eliminate multiple taxes as stamp duty would be additional burden on homebuyers.
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In a crackdown on unaccounted transactions, income tax authorities have identified more than 400 benami transactions. According to media reports, immovable properties with a total value of over Rs 530 crore have been attached in 40 cases.
The Nagpur Metro trial run will be conducted in the second half of 2017, between the MIHAN depot and the Airport station, say media reports. Track-laying at grade section is expected to be complete by June 30 while the remaining work will be completed by July end.
Also Read: Infra Projects That Will Drive Real Estate In Nagpur
The Tamil Nadu government is creating a database of unapproved plots to regularise them. The state has directed urban and rural bodies to identify such plots and also identify encroachments.
Souces: Media Reports