Yes, a cut of 3% in the stamp duty on the registration of property, from 9% to 6% in Chandigarh is a much relief for a property tax payer as well as for property buyers. The duty reduction is applicable only for the current financial year and only to urban areas, though. And it is applicable from Ist July.
Apart from that, the state government has done a commendable job by reducing stamp duty for urban areas. Apart from this, the announcement to formulate NRI property safeguard act and NRI ombudsman in the state will attract more overseas investors to make investments in Punjab.