Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="107284" type="ORGANIZATION" weightage="100" keywordseo="housing-board">Housing Board</keyword>, India’s apex financial institution for housing, wants home-ownership costs in India to fall. For this purpose, it is holding talks with state governments, in a bid to convince them to cut stamp duties and registration fees. "We have engaged with some state governments on how they could reduce stamp duty for affordable housing," <keyword id="2940929" type="PERSON" weightage="100" keywordseo="Sriram-Kalyanaraman">Sriram Kalyanaraman</keyword>, MD of the <keyword id="152130" type="COMPANY" weightage="100" keywordseo="National-Housing-Bank">National Housing Bank</keyword> (NHB), told <a href="http://economictimes.indiatimes.com/wealth/real-estate/if-housing-board-has-its-way-stamp-duty-registration-fees-on-house-may-fall-to-5-6/articleshow/58451019.cms">ET</a>. "If they accept it, stamp duties and registration charges should come down significantly. Such a reduction will bring down their margin money and provide relief to many Indians, for whom owning a 'home' is still an aspiration." Also read: <a href="http://www.businessinsider.in/thelife/real-estate/indians-pay-too-much-interest-on-home-loans-reveals-study/articleshow/57936834.cms">Indians pay too much interest on home loans, reveals study</a> If the NHB successfully convinces state governments, stamp duties and registration fees might come down to 5-6% of the basic cost of the property. As of now, these rates go up to 12.5% in some states. This would also help the government in achieving its "<a href="http://www.businessinsider.in/markets/budget2016/infrastructure/real-estate/Housing-for-All-Budget-2016-expectations/articleshow/50901695.cms">Housing for All</a> by 2022" objective, started two years ago. Also read: <a href="http://www.businessinsider.in/PM-Modis-Housing-For-All-to-remain-adistant-dream/articleshow/46745016.cms">PM Modi’s ‘Housing For All’ to remain a distant dream?</a> In order to achieve the pre-set target, 29.5 million additional homes need to be built by 2022. As per Kalyanaraman, states can make up for their losses from reduced rates by the increases revenues from increased housing. "Alternative sources of revenue from the housing sector need to be looked at," said Soumya Kanti Ghosh, the chief economic adviser at the <a href="http://www.businessinsider.in/small-business/finance/are-you-a-sbi-card-user-get-ready-to-pay-rs-100-on-small-payments-via-cheque/articleshow/58243746.cms">State Bank of India</a>. "To compensate the proposed reductions (stamp duty and registration charges), state governments could explore imposing <a href="http://www.businessinsider.in/markets/budget2017/your-money/Budget-2017-here-are-vat-rates-of-india-china-uk-germany-and-brazil-find-out-which-country-has-the-highest-rate/articleshow/56759073.cms">value-added tax</a> on luxury items, and on goods such as liquor. Such reductions will not only give shelters millions but also create jobs."

Housing board might talk states into slashing stamp duty & registration fees on houses

You Searched For "Sriram Kalyanaraman" and got 1 results

Housing board might talk states into slashing stamp duty & registration fees on houses

BI India Bureau

Popular Keywords

Buying Guides