Haryana imposes 2% additional duty on transfer of immovable properties

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Barely a few days before the state’s Budget is to be presented in the ongoing Vidhan Sabha’s Budget Session, Haryana Urban Local Bodies Department has imposed a two percent duty on transfer of immovable properties located within the limits of Municipal Corporations across Haryana.

Chief Minister Manohar Lal Khattar, who also holds the Finance portfolio, will be presenting state’s Budget on March 12.

Imposing the duty would increase the price paid by the people during transfer of immovable properties. The fresh two percent duty shall be imposed in addition to charges already applicable in such transfer of properties.

The notifications were issued by Additional Chief Secretary (Urban Local Bodies) S N Roy.

“The Governor of Haryana is pleased to direct that the duty on transfer of immovable properties situated within the limits of Municipal Corporations in the state by way of every instrument of description specified under the said clause (c) of the said sub-section shall be at the rate of 2 percent in addition to duty imposed under the Indian Stamp Act, 1899, as in force for the time being in the state of Haryana. The Governor of Haryana is further pleased to direct that the said duty shall be collected, at the time of registration of the said documents, by the Registrar or the Sub-Registrar under the Indian Stamp Act, 1899 and paid to the respective Municipal Corporation within whose jurisdiction such immovable property is situated in accordance with the provisions of this notification,” the notification issued in terms of immovable properties read.

The duty so paid shall be paid equally into the account of respective Municipal Corporation maintained and managed by the respective Commissioner of Municipal Corporation and the consolidated account for all the Municipal Corporations in Haryana maintained and managed by the Director, Urban Local Bodies Department for this purpose.

Source from: https://indianexpress.com/article/cities/chandigarh/haryana-imposes-2-additional-duty-on-transfer-of-immovable-properties-7217727/

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