The amendments to the current stamp duty bill are expected to abolish the rate of Buyers Stamp Duty (BSD) and Special Stamp Duty (SSD) to boost investment in the city’s property market.
This proposed amendment will waive of stamp duties payable on the transfer of real estate investment trust units.
In the previous year, the city’s government had already reduced the resale period in which SSD can be charged from 3 years to 2 years.
On 28th February 2024, the government has proposed to completely abolish the Buyers Stamp Duty (BSD) and Special Stamp Duty (SSD)
Transfer of shares under stock borrowing or lending transaction are expected to be exempted from the stamp duty amendment.