Getting property transferred in Gujarat? You can now save 80% on stamp duty this way

If you are planning to get a property transferred in Gujarat, there is good news for you. The state government has decided to reduce stamp duty by 80% in certain cases, which will help many middle-class families save money.

Gujarat Chief Minister Bhupendra Patel on Monday approved the decision to waive 80% of the payable stamp duty on property transfers carried out through allotment letters or share certificates by housing societies, associations and non-trading corporations.

In such cases, people will now need to pay only 20% of the original stamp duty.

According to an official release, the decision has been taken “to provide substantial relief in payable duty amounts for housing transfers concerning the state’s lower and middle-income families and individuals”.

“In cases where societies, associations, and non-trading corporations carry out property transfers through allotment letters or share certificates, up to 80 per cent of the payable duty will be waived. Thus, only about 20 per cent of the original duty amount will be collected,” the release stated.

The government also clarified that this benefit applies only when properties are transferred through allotment letters or share certificates by housing societies, associations, or non-trading corporations.

"It is important to note that provisions to be issued under the notification pursuant to this decision will apply exclusively to transfers carried out through allotment letters and share certificates by (housing) societies, associations, and non-trading corporations," the release added.

With this decision, the state government has ensured that the total stamp duty paid, including penalties, does not exceed what was earlier payable in such property-related matters, thereby saving citizens from additional financial burden.