To provide a boost to affordable housing, the State government has decided to reduce registration fee from 5% to 2% for each housing flat that costs less than ₹20 lakh and from 5% to 3% for housing flats costing less than ₹35 lakh. This was promised in the 2020-21 budget.
The reduction in registration fee is expected to benefit lower-middle income groups and boost demand for housing in the State. Owing to lockdown the revenue generated from stamps and registration department was likely to see a decline of ₹3,524 crore during 2020-21, said an official press note from the Chief Minister’s Office.
