Rajasthan Budget: Stamp Duty Relief For Middle-Class Buyers
As Chief Minister Vasundhara Raje was announcing her last Budget before the state goes to poll, there was much anticipation that it will be more of a socialist one rather than a populist one. While the highlight remained the one-time loan waiver for farmers worth Rs 8,000 crore, here are few other announcements that would directly impact the infrastructure, property markets and liveability in the state.
Raje announced a heavy relief in stamp duty and registration charges. For residential units allotted under the Chief Minister Jan Avas Yojana (CMJY), the stamp duty for the economically-weaker sections (EWS) and low-income group (LIG) category has been reduced to one per cent and two per cent from two per cent and 3.5 per cent, respectively. The registration fees have also been reduced from 0.25 per cent to Rs 1,000 on an agreement to sale executed under the CMJY. Stamp duty on release deed of an ancestral property of up to Rs 10 lakh has been reduced to Rs 500.
Marginal allocation for urban development
Raje allocated Rs 1,000 crore for development of all municipal areas with an additional Rs 72 crore for new electric buses in Jaipur and Rs 50 crore for development of a smart corridor in the Darayawati River Project. In a bid to promote affordable housing in the state, 2,500 EWS and LIG flats have been sanctioned at a cost of Rs 110 crore and 6,000 residences under the Rajasthan Housing Board. Apart from this, four new residential schemes have been announced for Jaisalmer District at a cost of Rs 51 crore. In order to boost smart city plan, a 3D BIM base implantation system will be implemented in selected smart cities of Rajasthan. India’s biggest industrial corridor — the Delhi Mumbai Industrial Corridor has got Rs 400 crore funding for land acquisition purpose. An interest subsidy scheme has been announced for practicing journalists.
Not much for roads and transport
CM Raje announced the construction of around 882-km roads in Jodhpur, Nagour and Pali district, to be funded by the World Bank-sponsored schemes. Under the Pradhan Mantri Gram Sadak Yojna, around Rs 1,662 crore has been allocated for the maintenance of 3,436 km of rural roads. Emergency landing strips will be developed on selected highways along with automatic driving tracks in 19 district transport offices. Raje also allocated Rs 800 crore for renewal of 5,000-km roads in rural areas.
Air quality monitoring stations proposed
In her Budget Speech, Raje announced the establishment of ambient air quality monitoring station in 26 districts at an expense of Rs 60 crore. An additional Rs 100-crore fund has been allocated for setting up Common Effluent Treatment Plant (CETP) in the state. Raje also said that there would be a stage-wise implementation of pollution control and management system.
With inputs from Housing News