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`Reduction in stamp duty misleading'

By Our Staff Reporter

NEW DELHI APRIL 30. The Opposition BJP in the Municipal Corporation of Delhi toady alleged that the Delhi Government was misleading the people on the issue of reduction in the rates of stamp duty in the Capital.

Addressing a press conference, the Standing Committee member and senior BJP Councillor from Rohini, Vijender Kumar, alleged that the Capital's residents would not benefit from the reduction in stamp duty. "There is a distinct possibility that this proposal might be dumped on the pretext that amendment to the Delhi Government Central Stamp Duty was not feasible,'' he said.

During the BJP's rule in Delhi, the transfer duty on sale of properties was 8 per cent of which 5 per cent was MCD's share and the remaining 3 per cent was being recovered by Delhi Government. "When the Congress came to power, it was increased to 13 per cent in which the share of the Delhi Government was increased from 3 to 8 per cent while that of the MCD remained at 5 per cent,'' he said.

Referring to the announcement of reduction in the stamp duty by the Delhi Government during the Budget session, Mr. Kumar alleged: "While the Delhi Government has increased its own share from 3 per cent to 5 per cent, the share of MCD has been reduced from 5 to 3 per cent. This would result in a revenue loss of Rs. 40 crores per annum to the MCD, adversely affecting civic services in the Capital.''

Mr. Kumar demanded that the Delhi Government reduce the rate of stamp duty from 3 per cent to 1.8 per cent and the total stamp and transfer duty to be charged on sale of property should be 4.8 per cent. "It would be justifiable and in the interest of public since the duty charged on transfer of properties by Delhi Government and MCD is not in lieu of providing any civic services or amenities,'' he said, urging the Delhi Lieutenant- Governor, Vijai Kapoor, to intervene in the matter.

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