CREDAI Chennai welcomes the Government’s order allowing adjustment of stamp duty and registration fees already paid by homebuyers. As this reform is implemented, it is important that its benefits reach all affected homebuyers, ensuring consistency and fairness across transactions said Mr Mohamed Ali, President, CREDAI Chennai. The order resolves the core issue of double taxation faced by homebuyers by permitting adjustment of stamp duty and registration fees already paid under the earlier registration framework, said Mr Mohamed Ali
Projects where construction agreements were registered prior to the composite framework, and cases involving double levy concerns, are expected to see faster resolution. This clarity will help unlock delayed registrations and accelerate sales closures in the coming quarters. On average, first-time homebuyers impacted by double taxation can save between ₹2 lakh and ₹6 lakh, depending on the value of the property and the construction agreement, said Mr Mohamed Ali
The clarity encourages both developers and homebuyers a permanent shift to composite registration for future projects. By resolving the hardship faced during the transition phase, this order strengthens confidence in composite registration as a stable, transparent, and long-term registration framework, added Mr Mohamed Ali
