Yes, even housing gets expensive


Chief minister Manohar Parrikar, in his budget speech, proposed to levy tax on agreement for sale on the builder, which will result in the escalation of house prices.
While exempting houses valued below Rs 10 lakh, Parrikar has levied taxes on consideration received or receivable by the builder or developer by way of agreement to sale of flats, housing projects, dwelling units, row houses and the like, which are under construction or development.
Parrikar said, "If the value is between Rs 10 lakh to Rs 100 lakh, then tax will be levied at 1% of the agreement value. In cases, where the value exceeds Rs 100 lakh, the tax will be levied at 2% of the agreement value."
The government has also increased stamp duty on administration bond, adoption deed, affidavit, agreement for sale of an immovable property, appointment on execution of power, appraisement or valuation, apprenticeship deed, certificate of sale, power of attorney, reconveyance of mortgaged property, etc. [TOI]