Recently, the state government has been increasing stamp duty at 11%, it is much higher than other states. Recently, 1 % infrastructure development (ID) was added to it. Earlier, in 2012 too, 1 % social infrastructure cess was imposed in the state. It has made the purchase of property costlier for people. Besides, even as the state government implemented the decision to impose ID fee with immediate effect on property transfer, incentives like fee waiver are being delayed.
Hi friends, I am new to Punjab and this was my first trip for a flat search. Recently I moved from Mumbai and planing to invest in residential market. What is the government policies in Punjab in realty sector?
Real estate in Punjab has failed to develop long-drawn slump and realtors feel that the state government has not done enough to incentivize property business with its unfriendly policies.Property transactions in the state have come to a pause due to the harsh policies.
That is because people want to know the benefits they will get from the government. All people want to get benefits for their investment and they want to see if any new good policies will be ruled out by the new government.