The Hindu Business Line : West Bengal reduces stamp duty

KOLKATA: The West Bengal Government has reduced the stamp duty from eight per cent to six per cent in Kolkata, Howrah and urban areas, besides six per cent to five per cent in rural areas with effect from today.

An official release said that the stamp duty would now be six per cent of the market value for properties situated in areas to which Kolkata Improvement Act, 1911 or Howrah Improvement Act, 1956 extended.

The stamp duty would also be fixed at six per cent of the market value for properties situated in areas of any municipal corporation or municipality or a notified area, and five per cent of the market value for properties situated in areas other than the first two cases.

The state government has also decided to exempt from tomorrow the collection of additional stamp duty at the rate of two per cent of the market value for properties situated within Kolkata and Howrah Municipal Corporations or any other Municipality of Ho wrah as levied so long in terms of the Kolkata Improvement (Amendment) Act, 2002 and Howrah Improvement (Amendment) Act, 2002, the release said. - PTI

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