Pune: Sub-Registrar offices to remain open till 9pm today for property registration with 3 per cent concession in stamp duty

Pune: As the saying goes, ‘money saved is money earned’, citizens have only 11 hours to go for availing the benefits of reduced 3 per cent stamp duty on registration of their property in the city. The department of registrations and stamps has said that the sub-registrar offices will stay open till 9pm on Thursday (December 31).

The department of registration and stamps has also made it clear that those citizens who have purchased the stamps till December 31, will be eligible for 3 per cent stamp duty concession for the next four months. The registration act allows people to execute the sale deed by paying the stamp duty and complete the registration process in the next four months.

A record 4.15 lakh property documents were registered till December 29 after the state government announced the slashing of stamp duty on property registration from September 1 till December 31, 2020. Of these 44 thousand registrations were done only in two days – Monday and Tuesday – this week. Citizens had queued up at the sub-registrar offices on Wednesday night too for completing their property registration work.

The stamp duty reduction by 3 per cent was announced by the state government to boost the real estate market which has been hardly hit by COVID19 outbreak. The state government has also said that the benefit will continue from January 1, 2021 to March 31, 2021 but with only 2 per cent reduction instead of 3 per cent.