Credai seeks single window clearance, reduction in stamp duty in Tamil Nadu

CHENNAI: The Confederation of Real Estate Developers Associations of India (Credai) has sought the Tamil Nadu government to launch a single window system for building approvals and reduce stamp duty. In a letter to chief minister Edappadi K Palaniswami and deputy chief minister O Panneerselvam, Credai Tamil Nadu chairman S Sridharan said the state government should implement the long awaited single window clearance. It would pave the way for dynamic and vibrant growth of the industry in the state, he added.

The single window system would throw the entire building approvals online, wherein all applications including planning permission and completion certificates would be processed at a click of button. Credai Chennai chapter president W S Habib said the government should take immediate steps to reduce stamp duty. "With amendments to the Tamil Nadu Combined Development and Building Rules, we expect that further measures such as reduction in stamp duty on a par with other states will benefit the revival and robust growth of real estate of the state," he said. Tamil Nadu has the highest combined registration fee and stamp duty -- 11%.


Source: https://realty.economictimes.indiatimes.com/news/industry/credai-seeks-single-window-clearance-reduction-in-stamp-duty-in-tamil-nadu/74586860

1 view
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • Black LinkedIn Icon

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.