The Punjab government proposed a cut of 3% in the stamp duty on the registration of property, from 9% to 6%. The decision will be made in the meeting. The agenda was prepared. The reduction is applicable only for the current financial year and only to urban areas.The state exchequer has registered a consistent decline in stamp duty collections in the wake of a slowdown in the property market. This has impacted the collections particularly from major cities such as Chandigarh, SAS Nagar, Ludhiana, Jalandhar, and Amritsar.Earlier, when the budget was passed, the Punjab government announced this in the Punjab Legislative Assembly. The Stamp duty for women was 8.5% and 9% for men but now it will be equalized. The government has also prepared that a decision on this will be implemented from August 7.
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