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Budget no cure for ‘haunted houses’
The Times of India  |  July 12, 2019

TNN Jaipur

The budget has elicited mixed reactions from developers in the district.

 

While some welcomed the exemption on registration on stamp duty on residential plots of martyrs, many found it lacking.

 

Gopal Das Gupta, a prominent developer said, “We welcome exemption of stamp duty on loan documents up to Rs 10 lakh for establishment of start-ups. The move to devise a policy for M-sand is also appreciable as the industry was facing a setback after the bajri ban. However, not putting a cap on registration fee will be a deterrent in providing relief to consumers.”

 

Industry players said purchasing a property worth more than Rs 3 crore would continue to cost people as a cap of Rs 3 lakh was not put and the state would continue to levy 1% of the registration fee.

 

On February 12, 2018, the Urban Development Housing (UDH) department removed the cap of maximum 3 lakh and decided to impose 1 per cent of registration fee on the total property cost.

 

For example, if a consumer was buying a property worth Rs 5 crore, the state government was levying Rs 5 lakh registration fee.

 

As it was burden on consumers, on May 27, 2019, the developers had presented the memorandum to the state government to put the cap of maximum Rs 3 lakh. However, the plea was unheard.

 

The consumers were also hoping that the state government will provide relief in land rates by slashing the district lease committee (DLC) rates. But that too failed to meet the expectations.

 

After the Congress came to power in January, UDH minister Shanti Dhariwal directed officials to draft a feasibility report to bring down DLC rates and table it in the state cabinet meeting.

 

The minister claimed the BJP government in during its tenure had increased DLC rates by 40 per cent, as a result, land deals came to a grinding halt.