Bhubaneswar,Apr25(BNP): In a significant policy reform, the Government of Odisha has scrapped the existing slab-based stamp duty system and introduced a uniform rate for all categories of property buyers. The move is expected to simplify the taxation structure but may lead to an increase in the cost of purchasing flats across the state.
Under the revised framework, all buyers—irrespective of income group or category—will now be required to pay the same rate of stamp duty, replacing the earlier system that offered differential rates. Officials stated that the reform aims to bring greater transparency, streamline the registration process, and improve revenue collection.
However, the decision has elicited mixed reactions from stakeholders. Real estate experts and middle-class buyers have raised concerns that the uniform rate could reduce affordability, particularly impacting lower and lower-middle-income groups who previously benefited from concessional rates.
Industry observers believe the policy may have a direct bearing on the affordable housing segment, potentially slowing demand in the short term. At the same time, the government is expected to monitor the impact of the reform and may consider further measures to balance revenue goals with housing accessibility.
Further notifications detailing the revised rates and implementation guidelines are anticipated in the coming days.