Stamp duty waiver on registration of flats to continue
According to a report published in The Hindu, the existing stamp duty waiver on flats registration will continue till 31 December 2009 in the urban areas of Hyderabad, Visakhapatnam, Vijayawada, Tirupati and Warangal.
The report further notes that "purchasers will need to pay only transfer duty and registration fee to register apartments in urban areas at 2 per cent and 0.5 per cent respectively on the value of the property as of now. Registration authorities used to collect 7 per cent stamp duty before the waiver."
This is a welcome move by the Government of Andhra Pradesh that will continue to benefit the flat buyers and builders alike.
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