Chennai, AIADMK general secretary Edappadi K Palaniswami on Sunday demanded Chief Minister MK Stalin to withdraw the notification of multifold increase in stamp duty.
Condemning the increase in stamp duty, Leader of Opposition Palaniswami termed the move as a "monument" of DMK's "dysfunctional rule" during the last three years.
Effective May 3, 2024, for 26 transactions, including adoption deeds and power o attorney documents, the "incompetent" DMK government has increased stamp duty "by 10 to 33 times", the AIADMK chief said in a statement.
The increase was notified in a government order dated May 8.
Hitting out at the CM Stalin-led DMK government that has "no sense of fiscal management", Palaniswami said that since I took over, the state government has already burdened the people by borrowing around Rs 3.5 lakh crore from 2021. Has been put.
Citing almost "150 per cent" increase in property tax levied by local bodies and up to "52 per cent" hike in electricity tariffs and increase in taxes under items like drinking water, the former chief minister accused the DMK regime of burdening it. Was accused. People because of its administrative incompetence.
He said, the government has not implemented the decision of the Madras High Court which had canceled the revised guideline value of properties for registration and the state government should revert to the old guideline value (2017) and follow the court's decision. should do.
The guideline value set by the government is the estimated market value of land properties in specified areas. Stamp duty/registration fee is calculated on the basis of guideline value.
Condemning the increase in stamp duty, Leader of Opposition Palaniswami termed the move as a "monument" of DMK's "dysfunctional rule" during the last three years.
Effective May 3, 2024, for 26 transactions, including adoption deeds and power o attorney documents, the "incompetent" DMK government has increased stamp duty "by 10 to 33 times", the AIADMK chief said in a statement.
The increase was notified in a government order dated May 8.
Hitting out at the CM Stalin-led DMK government that has "no sense of fiscal management", Palaniswami said that since I took over, the state government has already burdened the people by borrowing around Rs 3.5 lakh crore from 2021. Has been put.
Citing almost "150 per cent" increase in property tax levied by local bodies and up to "52 per cent" hike in electricity tariffs and increase in taxes under items like drinking water, the former chief minister accused the DMK regime of burdening it. Was accused. People because of its administrative incompetence.
He said, the government has not implemented the decision of the Madras High Court which had canceled the revised guideline value of properties for registration and the state government should revert to the old guideline value (2017) and follow the court's decision. should do.
The guideline value set by the government is the estimated market value of land properties in specified areas. Stamp duty/registration fee is calculated on the basis of guideline value.
