{"id":67197,"date":"2020-06-26T10:13:00","date_gmt":"2020-06-26T05:13:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=67197"},"modified":"2020-06-25T18:16:04","modified_gmt":"2020-06-25T13:16:04","slug":"reduction-stamp-duty-property-transfers-rawalpindi-drop-anticipation","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/reduction-stamp-duty-property-transfers-rawalpindi-drop-anticipation.html","title":{"rendered":"Reduction in Stamp Duty: Property transfers in Rawalpindi drop in anticipation"},"content":{"rendered":"\n<p>Rawalpindi: Following the Government of Punjab\u2019s announcement of a reduction in Stamp Duty from 5% of the value of a property to 1%, the property transfer and registration volumes for the city registered a significant decline in anticipation of this development; slated to go into effect on July 1 \u2013 a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/punjab-budget-2020-21-reduction-in-stamp-duty.html\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab Budget 2020-21: Reduction in stamp duty, tax exemption for builders proposed<\/a><\/p>\n\n\n\n<p>According to details, registration levels have dropped in almost all the urban, cantonment and suburban areas of the city; with the report noting that no applications had been processed in the last week. The government\u2019s reduction will allow citizens to save tens of thousands of rupees in stamp duty for the registration of their properties.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/notification-cvt-stamp-duty-awaited.html\" target=\"_blank\" rel=\"noreferrer noopener\">Notification on Stamp duty, CVT awaited for resumption of property transfers in Rawalpindi<\/a><\/p>\n\n\n\n<p>Speaking to the media on the matter, Stamp Selling Union District Kachehri President Malik Waheed Awan said that this \u2018huge reduction in Stamp Duty\u2019 was \u2018unprecedented\u2019; meaning that in the case of commercial properties, people would now be able to save hundreds of thousands of rupees in registration fees, and tens of thousands in the case of residential.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rawalpindi: Following the Government of Punjab\u2019s announcement of a reduction in Stamp Duty from 5% of the value of a property to 1%, the property transfer and registration volumes for the city registered a significant decline in anticipation of this development; slated to go into effect on July 1 \u2013 a news source reported. Read: Punjab Budget 2020-21: Reduction in stamp duty, tax exemption for builders proposed According to details, registration levels have dropped in almost all the urban, cantonment and suburban areas of the city; with the report noting that no applications had been processed in the last week. The government\u2019s reduction will allow citizens to save tens of thousands of rupees in stamp duty for the registration of their properties. Read: Notification on Stamp duty, CVT awaited for resumption of property transfers in Rawalpindi Speaking to the media on the matter, Stamp Selling Union District Kachehri President Malik Waheed Awan said that this \u2018huge reduction in Stamp Duty\u2019 was \u2018unprecedented\u2019; meaning that in the case of commercial properties, people would now be able to save hundreds of thousands of rupees in registration fees, and tens of thousands in the case of residential.<\/p>\n","protected":false},"author":57,"featured_media":63128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[32874,32872,32873],"persona":[],"class_list":{"0":"post-67197","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-property-transfers-in-rawalpindi","9":"tag-reduction-in-stamp-duty-property-transfers-in-rawalpindi-drop-in-anticipation","10":"tag-stamp-duty-reduction-in-punjab","11":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stamp Duty Reduced: Rawalpindi&#039;s Property transfers drop- Zameen News<\/title>\n<meta name=\"description\" content=\"Rawalpindi: Following the Government of Punjab\u2019s announcement of a reduction in Stamp Duty from 5% of the value of a property to 1%, the property transfer and registration volumes for the city registered a significant decline in anticipation of this development; 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