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Friday, August 7, 2009

Making dream of legally owning house a reality: independent floors in plotted colonies in Faridabad

Sources said that vertical divisions of plots and increase in floor area ratio (FAR) would not be allowed. In addition to the normal stamp duty, 1% extra stamp duty would have to be paid by the party desirous of registering the floor-wise dwelling units through a separate challan.

This 1% stamp duty will be paid by the treasury to the municipal committee/ HUDA depending on where the property in question is located. While this is going to bring huge relief to house owners, there is also a catch for the state government . It expects to generate approximately Rs 200 crore revenue in the form of collection of stamp duty with this single move.
Read more in the Economic Times

Labels: huda, property