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The Govt of West Bengal took a laudable initiative to reduce the circle rate and stamp duty in the last six months, which has resulted in good sales of properties. The overall revenue of Govt has also gone up.
My expectations are that the circle rates particularly for land in suburbs, sector V are reduced and brought to the realistic level which means the actual market price level and also permanently reduce the stamp duty on constructed properties by 2% and bring it to the competitive level where most of the cities are.
Today we see, in many of the cities the stamp duty on the constructed properties are 4 to 5% In the like manner if the excise duty on liquor is kept at a reasonable level so that the boot lagging or smuggling does not happen”, said Sushil Mohta, President, Credai West Bengal and Chairman, Merlin Group.
