Defer revision of market rates, govt. urged
The Hindu
Revert stamp duty, nala conversion rates and local body charges to previous levels: CREDAI, TREDA
Confederation of Real Estate Developers’ Associations of India (CREDAI TS & AP) and Telangana Real Estate Developers’ Association (TREDA) jointly appealed to the government on Thursday to defer the revision of market values till a proper study is made into the recent increase in costs, changes in economy in general, affordability and the likely impact of the Union Budget.
In a statement to the media, the associations also requested the government to revert the stamp duty, nala conversion rates and local body charges to the previous levels. It was pointed out that the market rates were revised just seven months ago by 30-100%, stamp duty by 3.75%, and nala charges by 50-67%.
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