Will the burden on homebuyers increase? Chamber opposes 10% additional registration surcharge
Ranchi: People planning to buy a house or land in Jharkhand may soon have to bear higher costs. The Federation of Jharkhand Chamber of Commerce and Industries has opposed the state government's proposal to levy an additional 10% surcharge on property registration.
Chamber President Aditya Malhotra stated that the direct burden of this additional charge would fall on ordinary buyers, middle-class families, and first-time homebuyers. This move would make purchasing a home more expensive, impact property transactions, and potentially slow down the real estate and construction sectors.
The Chamber has urged the government not to implement the proposed 10% additional surcharge at this stage and to take a final decision only after extensive consultations with the trade, industry, and real estate sectors, as well as other stakeholders.
