Tamil Nadu Government Gazette, No. 44, Part II, Section 2 (44 II 2 v2)
The Government of Tamil Nadu published Tamil Nadu Government Gazette, No. 44, Part II, Section 2 on 10 November 2010, containing notifications from several Secretariat departments. For property and loan transactions, the Commercial Taxes and Registration Department, through G.O. Ms. No. 177, Commercial Taxes and Registration (J1), dated 21 October 2010, remits specified stamp duty and registration fees for beneficiaries obtaining bank loans under the Interest Subsidy Scheme for Housing the Urban Poor.
What the Gazette contains
Tamil Nadu Government Gazette, No. 44, Part II, Section 2 publishes government notifications of interest to sections of the public. The issue includes notifications concerning a university appointment, Fire Service medals, industrial disputes, minimum wages, and concessions for documents connected with housing loans.
For property buyers and owners, the relevant notifications were issued by the Commercial Taxes and Registration Department under G.O. Ms. No. 177, Commercial Taxes and Registration (J1), dated 21 October 2010.
Stamp duty remission
The Commercial Taxes and Registration Department notification No. II(2)/CTR/681/2010 remits stamp duty under the Indian Stamp Act, 1899 for specified documents executed by beneficiaries of the Interest Subsidy Scheme for Housing the Urban Poor in favour of banks to obtain loans under that scheme.
The covered instruments are:
- Mortgage deeds.
- Loan agreements.
- Memoranda of deposit of title deeds.
- Any other document executed for obtaining the scheme loan from a bank.
Registration fee remission
The Commercial Taxes and Registration Department notification No. II(2)/CTR/682/2010 remits the registration fee under the Registration Act, 1908, in the public interest, for specified documents to be executed by scheme beneficiaries in favour of banks.
The covered documents are:
- Loan agreements.
- Memoranda of deposit of title deeds.
- Any other document used to obtain a bank loan under the Interest Subsidy Scheme for Housing the Urban Poor.
Who is affected
The remissions apply to beneficiaries obtaining bank finance under the Interest Subsidy Scheme for Housing the Urban Poor. The text does not provide a general stamp duty or registration fee exemption for ordinary property purchases, private housing loans, or documents outside that scheme.
A beneficiary or bank dealing with a scheme loan should identify whether the document is one of the listed instruments or another document executed specifically to obtain the loan. The Gazette does not state the amount of the loan, the amount of the remission, or any separate eligibility conditions for joining the scheme.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does the Gazette waive stamp duty for every home loan?
No. The stamp duty remission is limited to documents executed by beneficiaries obtaining bank loans under the Interest Subsidy Scheme for Housing the Urban Poor.
Is a mortgage deed covered by the stamp duty remission?
Yes. Mortgage deeds executed by scheme beneficiaries in favour of banks for obtaining loans under the scheme are expressly covered.
Is the registration fee also remitted for a memorandum of deposit of title deeds?
Yes. The registration fee remission covers a memorandum of deposit of title deeds executed in favour of a bank for obtaining a loan under the scheme.
Does the Gazette state how much duty or registration fee is remitted?
No. The Gazette remits the applicable duty and fee for the covered documents but does not state an amount or rate.
