Haryana reduces stamp duty on property for servicemen

November 9th, 2010 - 9:28 pm ICT by IANS  

Chandigarh, Nov 9 (IANS) The Haryana government Tuesday announced a one percent reduction in stamp duty for serving and retired defence personnel purchasing a residential property, dwelling unit or plot in the state.

The decision was taken in a meeting of the state cabinet chaired by Chief Minister Bhupinder Singh Hooda here, a state government spokesman said.

“Haryana is the largest contributor of personnel to the Armed Forces and has about 4.37 lakh (437,000) serving and retired defence personnel,” the spokesman said.

The concession can be availed only once by the defence personnel.

“This decision would benefit the defence personnel to a tune of Rs.10 to 12 crore per annum. In case any beneficiary is found misusing this concession at any stage, he will be punishable by the collector with a fine, which may extend to ten times the concession of stamp duty availed,” the spokesman added.

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