Stamp duty remission on property registration extended till 30th June 2024

In a recent development, the government of West Bengal has extended the remission of stamp duty on property registration until June 30, 2024. 

The recent release of the Finance Department of the state government states "Considering the economic slowdown due to Covid 19 pandemic, the Government in the Finance (Revenue) Department had considered the necessity for remission of Stamp Duty temporarily by 2% for several types of registration up to 31st January, 2022 vide Notification No. 1281-F.T. dated 30th October, 2021."

It further stated "Now, in the interest of the public service, particularly, to extend relief to the home-buyers, it has been decided by the Government in the Finance (Revenue) Department to further extend the benefits of Notification No. 1281-F.T. dated 30th October, 2021 and Notification No. 1282- F.T. dated 30th October, 2021 till 30th June, 2024."

The initial stamp duty remission was introduced as a temporary measure to stimulate property sales and investments during a challenging economic period. The extension of this remission indicates the government's commitment to supporting the real estate sector and ensuring its sustained growth.