City Reports

Rajasthan Budget 2018 for real estate: All you need to know

10 percent reduction in existing rates of agriculture, residential and commercial land with effect from February 13, 2018.

Staff Writer | February 12, 2018 | Last Updated:
February 12, 2018 4:58 pm
vasundhara raje rajasthan budget

Chief minister Vasundhara Raje announced a 10% reduction in DCL rates.

Jaipur: In the the Rajasthan budget 2018-19, the BJP government has announced several reliefs to boost real estate sector. Here are some of the announcements:

  • 10 percent reduction in existing rates of agriculture, residential and commercial land with effect from February 13, 2018. In those districts in which DLC meetings is not conducted in the year 2017-18 (up to March 31, 2018), there will be no increase in DCL rates on April 1 this year.
  • No increase in valuation of agriculture ,residential and commercial land by the DLC in the year 2018-19.
  • Five percent additional concession in valuation of residential and commercial plots of area more than 3000 square meters.
  • 100% exemption from interest and penalty payable on stamp duty allowed under the Amnesty Scheme if the stamp duty due is deposited up to May 31.
  • 25 percent concession in valuation of the land under patta of mixed land use issued by development authorities.
  • In rural areas, valuation of the agriculture land up to 1000 square meters to be done at the rate of agriculture rate instead of the rate of residential land to help farmers to sell or buy land for agriculture purposes in rural areas.
  • Stamp duty on release deed of ancestral property upt to Rs 10 lakhs to be reduced from maximum Rs 2000 to Rs 500.
  • Relief in stamp duty if release deed of ancestral property is executed by or in favour of mother’s brother and sister’s son and sister’s daughter.
  • Registration fee to be reduced from one percent to 0.25 percent and maximum rupees Rs 10,000 on partition deed of ancestral property.
  • Stamp duty reduced from 2% and 3.5% to 1% and 2% on documents of residential units allotted to persons of EWS and LIG respectively under Chief Minister Jan Avas Yojana. Registration fee also reduced from 0.25% with maximum of Rs 10,000 to Rs 10,000 on agreement to sale executed under CMJY.
  • Relief in stamp duty for pattas given by gram panchayat and urban local bodies to poor people free of cost or at token money to help poor families.
  • Benefit of 100% concession of stamp duty extended up to March 31, 2019 on the instrument of loan executed for the purpose of establishment of startup under Startup Policy – 2015, education loan and cash credit, overdraft or term loan under the Scheme of MUDRA and reserve mortgage of property by senior citizens.
  • Stamp duty on loan agreement, equitable mortgage and mortgage without possession was reduced to 0.15% to maintain parity in all similar documents.
  • Stamp duty on documents related to articles of association of company reduced from 0.5% to 0.15% with minimum of Rs 5000 and maximum of Rs 25 lakh to promote registration of companies in the state.
  • Exemption of stamp duty on agreement executed between bank and marchant in the respect of Point of Sale Machine to promote Digital Indai Program.
  • Stamp duty on Power of Attorney executed in favour of stoke broker registered with SEBI for the purpose of buying and selling of securities to be reduced from Rs 200 to Rs 100 to help small investors of the state.
  • Registration fees reduced and charged 20% o the amount of stamp duty change don the lease deeds up to the period of 20 years in the last budget. Registration fees on lease deed up to 30 years also to be reduced to 20% of the amount of stamp duty charged.
  • The maximum limit of registration fees on conveyances reduced from Rs 4 lakh to Rs 3 lakh.

Subscribe to WhatsApp updates for Jaipur News Click on the following link(s) to find the latest & related stories on:
thumb image
Jaipurites mourn death of Atal Bihari Vajpayee

TOP STORIES