G.O.(D) No.208, Surcharge on Stamp Duty Fund Release, 2022
The Municipal Administration and Water Supply (Town Panchayats.2) Department issued Government Order G.O.(D) No.208 dated 20 June 2022, sanctioning the release of surcharge on stamp duty funds to Town Panchayats and the Tamil Nadu Urban Road Infrastructure Fund. It sanctions Rs.25,73,64,885 for each recipient, based on collection details provided by the Inspector General of Registration.
What the government order does
Government Order G.O.(D) No.208 dated 20 June 2022 deals with the distribution of money collected as surcharge on stamp duty. The Municipal Administration and Water Supply (Town Panchayats.2) Department approved equal releases to Town Panchayats and the Tamil Nadu Urban Road Infrastructure Fund, commonly identified in the document as TURIF.
The approval follows a proposal from the Commissioner of Town Panchayats and collection details furnished by the Inspector General of Registration. The method of apportionment is based on an earlier direction that surcharge should be distributed according to the Inspector General of Registration's report.
Amounts recorded
The financial statement in Government Order G.O.(D) No.208 records:
- Total surcharge on stamp duty of Rs.53,06,49,248.
- Ninety seven per cent of the surcharge amounting to Rs.51,47,29,770.
- Rs.25,73,64,885, representing half of that amount, for Town Panchayats.
- Rs.25,73,64,885, representing the other half, for the Tamil Nadu Urban Road Infrastructure Fund.
- Three per cent of the surcharge amounting to Rs.1,59,19,478.
Release and administration
Government Order G.O.(D) No.208 authorises the Commissioner of Town Panchayats to draw and disburse the sanctioned amounts. The Tamil Nadu Urban Road Infrastructure Fund allocation is to be paid to the fund operated by the Chairman and Managing Director of Tamil Nadu Urban Infrastructure Financial Services Limited, acting as fund manager.
The amount drawn must not exceed the collection received from the Inspector General of Registration. The Commissioner of Town Panchayats must also follow the instructions issued in Government Order G.O.(Ms).No.64 dated 28 February 2011.
The document describes the release to Town Panchayats as being for the quarter ending 31 December 2021. Most references also identify the overall release as relating to that quarter. However, the specific sanction paragraph for the Tamil Nadu Urban Road Infrastructure Fund states the quarter ending 31 December 2022.
Relevance to property owners and buyers
Government Order G.O.(D) No.208 concerns government accounting and distribution of surcharge already collected. It does not state a new stamp duty or surcharge rate, change property ownership records, or require an individual property buyer or owner to make a separate payment.
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 G.O.(D) No.208 increase stamp duty or the surcharge payable on a property transaction?
No increase or new rate is stated. The document authorises the distribution of surcharge on stamp duty collections between Town Panchayats and the Tamil Nadu Urban Road Infrastructure Fund.
How much money is released to Town Panchayats?
The Municipal Administration and Water Supply (Town Panchayats.2) Department sanctions Rs.25,73,64,885 for release to Town Panchayats.
How much is allocated to the Tamil Nadu Urban Road Infrastructure Fund?
Government Order G.O.(D) No.208 sanctions Rs.25,73,64,885 for the Tamil Nadu Urban Road Infrastructure Fund.
Who is responsible for distributing the sanctioned money?
The Commissioner of Town Panchayats is authorised to draw and disburse the money to Town Panchayats and to the Tamil Nadu Urban Road Infrastructure Fund. The amount drawn cannot exceed the collection received from the Inspector General of Registration.
