Tag: TN Government’s Stamp Duty Hike Announcement Puts Strain on Home Buyers

TN Government’s Stamp Duty Hike Announcement Puts Strain on Home Buyers, Impacts Affordability and Accessibility of Housing ~ Increased Registration Charges to Impact Common Man and Further Delay Property Registrations ~ Chennai, July 18, 2023 : “The recent announcements by the TN Government have impacted home buyers putting a strain on the affordability and accessibility of housing. On 8th of July, the State Government passed a new orde r increasing Stamp duty charges from a fixed amount to 1% of the market value of the property, while registratio n charges for construction agreements have increased from 1% to 3% effective immediately from 10th July 202 3. This has compromised the affordability of new homes, impacting the state's vision of "Homes for All”, said Mr S Sivagurunathan, ...