The Punjab government has extended for another three months, the scheme for the owners of plots allotted by government’s any development authority in Mohali and elsewhere in Punjab to get the conveyance deed of their plots registered at the allotment rates instead of the prevailing collector’s rate.
In a notification issued under Sections 47-A and 75 of the Indian Stamp Act, 1899, the Department of Revenue and Rehabilitation made fourth amendment in the Punjab Stamp (dealing of under-valued instruments) Amendment Rules, 2009, to grant a major relief to the plot owners in the state.
As per the notification, the stamp duty for registration of immovable property allotted by any government/semi-government organisation will be charged on the consideration amount fixed at the time of allotment of such property, provided that the document was got registered by the original allottee and the re-allottees (to whom such property was transferred by the original allottee through a government/semi-government organisation or legal heirs of the original allottees), who were yet to pay full and final instalments of their plots, till March 31. Those, who were still paying the installments, could avail this benefit within three months from the payment of their last regular instalment as per schedule of payment of such allotment.
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