CHENNAI: The stamp duty rate imposed by the government for buying properties will be reduced after conducting consultations with all stakeholders including officials and the government’, O. Panneerselvam, the Deputy Chief Minister, has said.
The Deputy CM was inaugurating FAIRPRO 2020 organized by the Confederation of Real Estate Developers Association of India (Credai) at Chennai Trade Centre at Nandabakkam here on Friday.
''Last time I met Credai officials, they took up with me the matter of reducing stamp duty for property deals. I had given them an assurance to cut the duty. I will take the matter seriously. The duty will be cut so that our government's goal of 'house for all' can be achieved. Apart from that a single window scheme will be also be introduced to ease out the anomalies relating to property deals. The government will provide all support for builders to improve their business. I hope this year's FAIRPRO will draw more business than last year,' said Mr Panneerselvam
W.S Habeeb, president, Credai Chennai, presided over the function. Rajesh Lakhoni, Secretary, Housing and Urban Development Department, D Karthikeyan, Member-Secretary, Chennai Metropolitan Development Authority (CMDA) and Chandra Sekhar Sakhamuri, Commissioner, Directorate of Town and Country Planning (DTCP) attended the event. According to the organisers, as many as 70 developers will take part in the three-day property expo displaying over 400 residential projects with prices that range from Rs 21 lakhs to Rs 11 crore and above.
