Credai-Rajasthan urges govt to lower stamp duty in the next budget
Real Estate

Credai-Rajasthan urges govt to lower stamp duty in the next budget

In a meeting with the finance department to provide suggestions for the budget 2022-23, prominent real estate industry body Credai-Rajasthan asked the government to rationalise the stamp duty structure to create housing affordable for the common man.

Realty developers who met Akhil Arora, principal secretary (finance), admitted that the government should release the provision for charging households residing in societies to give an additional sum for having access to Bisalpur water. Dhirendra Madan, president of Credai-Rajasthan, told the media that the continuous surge in DLC rates along with high stamp duty has an upward pressure on property costs.

Real estate developers purchase land to develop housing units and sell to buyers. If the price of raw materials is high, it would be difficult to reduce costs for the buyers. That's why they want the state government to lower stamp duty and registration by 50%.

Regarding the DLC rates in commercial malls, in many areas, the market value is much lower. Madan said this is causing problems in deals as taxes are to be paid on the DLC costs. The difference between DLC costs for residential and commercial malls must not be over 25%, added Madan. Along with surcharge, the stamp duty in Rajasthan is among the highest in the nation at 8.80%. Additionally, DLC rates are increasing continuously hitting the affordability for people. Likewise, the Credai-Rajasthan wanted the finance secretary to dismiss the anomaly of stamp duty on warehouses.

The secretary of Credai-Rajasthan, Rajendra Singh Pachar, told the media that warehouses are authorised as MSME industrial units by the UDH. They are managed under the rules of the Rajasthan Investment Promotion Scheme-2019. But when it comes to stamp duty, they are charged as commercial units, which draw higher taxes. This anomaly requires to be fixed.

Image Source

In a meeting with the finance department to provide suggestions for the budget 2022-23, prominent real estate industry body Credai-Rajasthan asked the government to rationalise the stamp duty structure to create housing affordable for the common man. Realty developers who met Akhil Arora, principal secretary (finance), admitted that the government should release the provision for charging households residing in societies to give an additional sum for having access to Bisalpur water. Dhirendra Madan, president of Credai-Rajasthan, told the media that the continuous surge in DLC rates along with high stamp duty has an upward pressure on property costs. Real estate developers purchase land to develop housing units and sell to buyers. If the price of raw materials is high, it would be difficult to reduce costs for the buyers. That's why they want the state government to lower stamp duty and registration by 50%. Regarding the DLC rates in commercial malls, in many areas, the market value is much lower. Madan said this is causing problems in deals as taxes are to be paid on the DLC costs. The difference between DLC costs for residential and commercial malls must not be over 25%, added Madan. Along with surcharge, the stamp duty in Rajasthan is among the highest in the nation at 8.80%. Additionally, DLC rates are increasing continuously hitting the affordability for people. Likewise, the Credai-Rajasthan wanted the finance secretary to dismiss the anomaly of stamp duty on warehouses. The secretary of Credai-Rajasthan, Rajendra Singh Pachar, told the media that warehouses are authorised as MSME industrial units by the UDH. They are managed under the rules of the Rajasthan Investment Promotion Scheme-2019. But when it comes to stamp duty, they are charged as commercial units, which draw higher taxes. This anomaly requires to be fixed. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement