SAS Nagar, Oct 14: the Mohali Property Consultants Association has demanded the Punjab government to reduce the stamp duty levied by the government during the registration of land property to alleviate the gridlock in the property business.
President of the association SZ. Harpreet Singh Dadwal said that instead of making the necessary reduction in stamp duty, the Punjab government has prepared to put three percent more burden on the people and after December 31, the government has prepared land to recover three percent more amount from the people on the occasion of land property registrations.
He said that during the Cabinet meeting held last day, the Punjab government had decided to continue the exemption of three percent duty charged as social security fee till December 31, claiming that the government has given a big relief to the people, while the reality is that under the guise of this decision, the land property from the common people has been given to the people. at the time of Registration, three percent of the weight has been prepared to be put.
He said the Punjab government had decided to withhold three per cent of the Social Security Fund charged by the government at the time of registration of land property till further orders and this exemption has been going on in the past years but now the current government has decided to implement this exemption till December 31, 2023. this means that from January 1, the Punjab government will recover an additional amount of three percent from the general public at the time of registration and this will put a lot of burden on the general public.
He said that people associated with the real estate business have been demanding for a long time that the Punjab government should cut stamp duty to break the bottleneck in the property business, but the government is preparing to increase the burden on the people.
He demanded that the government should permanently abolish the exemption given to the Social Security Fund and at the same time reduce stamp duty so that the common people can get relief.