Roll back ‘worrisome’ hike in stamp duty, registration fee: TNCC chief tells govt
As per the amendment Act, the stamp duty has been hiked between 10% and 33% and also the market value of properties has increased, Selvaperunthagai said
TNCC President K Selvaperunthagai
CHENNAI: Tamil Nadu Congress Committee (TNCC) president K Selvaperunthagai on Saturday urged the State government to immediately roll back a 'worrisome' hike in stamp duty and registration fee announced by the registration department.
Referring to the steep upward revision in stamp duty for 20 different types of registrations, including purchase/sale of houses/plots, gift deeds and construction agreements by the registration department, Selvaperunthagai said that the state government must immediately withdraw the hike, saying it would adversely affect all sections of people.
Pointing out that the minimum fee has been hiked manifold from existing Rs 20 to Rs 100, 200 and 500, the TNCC chief pointed to the hike in stamp duty for sworn affidavits from Rs 20 to Rs 200 and said that the Indian Registration Act 2023, which was amended by the State Registration Department in the Assembly, came into force on May 3, 2024, facilitating hike in fee for 24 different types of transactions.
As per the amendment Act, the stamp duty has been hiked between 10% and 33% and also the market value of properties has increased, Selvaperunthagai said, and added, "I don't know why the State government has not rolled back the hike despite the Madras High court striking down the same."
Referring to a similar hike effected last year, Selvaperunthagai said that as per an order issued by the registration department last year, the registration fee and stamp duty for the settlement deed were increased to Rs 10,000 and Rs 40,000. Likewise, the fee for General Power of Attorney was increased to Rs 10,000 last year. The maximum registration fee and stamp duty for documents was hiked to Rs 10,000 and Rs 25,000 to Rs 40,000 for various categories from Rs 4,000, the TNCC chief said. It is worrisome that the stamp duty and registration fee have been hiked again this year, more so when the poor and middle-class people were burdened by last year's hike in registration and stamp duty hike, he added.