Investor’s Clause and Stamp Duty Exemption

Previously if someone wants to purchase a property from a developer or builder for an investment purpose, he used to get some exemption on the stamp duty if that property is being sold within one year. The stamp duty exemption duration was very less and a lot of people were not able to sell their property during that duration hence they would not benefit from the rule.

The government has modified that rule and now the exemption duration is three years. So if someone purchased a property as an investment and manages to sell it within three years will be eligible for exemption on the stamp duty. E.g. Investor purchased a flat in April 2022 for Rs. 75,000,00/- as an investment and manages to sell that property in January 2024 for Rs. 85,00,000/-, in this case, stamp duty will be applicable on Rs. 10,00,000/-.

The full article by Sakal on this news can be accessed by clicking here.

I think this is a very good step by the Government to increase the transactions in the real estate sector. Let me know your thoughts on it.

Information source – Sakal Pune Today dated 22/03/2022.