The Builders’ Association of India (BAI) has requested the Tamil Nadu government to reduce the stamp duty and registration charges to a maximum 4%, similar to States like Maharashtra and Karnataka. The construction industry has been hit due to the pandemic, the BAI said.
BAI southern centre chairman L. Shantha Kumar said stamp duty in Tamil Nadu was the highest when compared to other States and it was a huge burden on the buyers who had to pay 11% stamp duty and registration charges. “All other States have cut down on stamp duty charges,” he said.
Recently, the governments of Maharashtra and Karnataka reduced stamp duty and registration charges from 5% to 3% to boost their realty sector.
The association also sought clearance of several bills due to contracts pending with various government departments.
The BAI further sought the revision of water tax and sewerage charges, as per…