2.25% stamp duty, fee exemption in Punjab for registrations till March end:Minister

The Punjab government has decided to grant an exemption of 2.25% in stamp duty and fees to those registering their property/land by March 31.

The Punjab government has decided to grant an exemption of 2.25% in stamp duty and fees to those registering their property/land by March 31. Announcing this, revenue minister Bram Shanker Jimpa said that the stamp duty and fees have been reduced by 2.25% from March 1 to March 31. “ Those opting for registration of land will now be exempted from 1% additional stamp duty, 1% PIDB fees and 0.25 % special fees. A notification in this regard has been issued by the state government,” he said in a statement.

Revenue minister Bram Shanker Jimpa said that the stamp duty and fees have been reduced by 2.25% from March 1 to March 31. (Representational Photo (Getty Images/iStockphoto) )

The minister said that 40% more revenue has come into the treasury from land and property registries during February 2023 as compared to the corresponding month of the previous year. “From February 1 to February 28, 2023, an income of ₹ 338.99 crore has come to the treasury under stamp and registration as against ₹241.62 crore during the corresponding month of 2022,” he said.

The state has earned ₹3499.94 crore between April 2022 and February 2023, which is 19% more than ₹2929.74 crore collect led during the corresponding period of previous year.

Divulging further details, Jimpa said that from April 2022 to February 2023, a total of 19% more income has been recorded in the treasury of the Punjab government as compared to the previous year.