New Delhi: The Delhi Budget for 2008-09 presented by Finance Minister AK Walia will bring cheers to many residents of the city who are dreaming of buying their own house.
The state government has reduced the stamp duty for men from five per cent to three per cent while for the women it has come down to two per cent from the present rate of three per cent.
E-stamping will be introduced from April 1 and the stamp duty on brokers notes will be rationalised by bringing it at par with the rates in Gujarat and Rajasthan.
Stamp duty is paid by purchasing stamp papers from the government treasury and is payable at the time of registration of a property.
Walia also announced that the Value Added Tax (VAT) on many items has been reduced.
The tax on compact fluorescent lamps and electronic choke have been reduced from 12.5 per cent to four per cent.
All categories of sweetmeats and 'namkeen' will be taxed uniformly at four per cent.
VAT on locks, and weights and measures have been brought down from 12.5 per cent to four per cent.
VAT on fibreboard made of agricultural waste has also been reduced from 12.5 per cent to four per cent.
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