Stamp duty, land registration fee hiked in AP HYDERABAD: Indicating that mopping up financial resources is a top priority now, the Andhra Pradesh government increased the land registration fee besides enhancing the stamp duty, which will come into effect on December 1.
Sources said the government wants to mop up Rs 1,500 crore to Rs 2,000 crore by enhancing the registration charges and stamp duty.
As per the GOs issued by the revenue department, stamp duty was increased from 4 per cent to 5 per cent, while the land registration fee was hiked from 0.5 per cent of the market value to 1 per cent. The government released fresh orders amending the previous orders issued by past governments in 2010 and 2013.
'The government has decided to rescind the orders issued in GO Ms No 585 (dated 30-11-2013) with immediate effect and to alter the stamp duty payable in respect of certain documents under Schedule 1-A of the Indian Stamp Act-1899,' the government stated in its orders.
News Posted: 27 November, 2014
|