Tamilnadu Home Buyers are affected by steep increase in Stamp Registration Charges, says CREDAI
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 order increasing Stamp duty charges from a fixed amount to 1% of the market value of the property, while registration charges for construction agreements have increased from 1% to 3% effective immediately from 10th July 2023. This has compromised the affordability of new homes, impacting the state's vision of "Homes for All”, said Mr S Sivagurunathan, President, CREDAI Chennai . Press meet youtube video link ЁЯСЗ ЁЯСЗ This sudden increase has created a significant financial burden for home buyers, forcing them to pay the additional amount from their own f...