CHENNAI: CREDAI Chennai (Confederation of Real Estate Developers' Associations of India) has welcomed the government’s decision allowing homebuyers to adjust their stamp duty and registration fees, which will prevent double taxation.
“As this reform is implemented, it is crucial that its benefits reach all affected homebuyers, ensuring consistency and fairness across transactions,” Mohamed Ali, president, CREDAI Chennai, said.
He added that the government order addresses the core issue of double taxation faced by homebuyers by permitting adjustment of stamp duty and registration fees already paid under the previous registration framework.
Projects where construction agreements were registered prior to the composite framework, and cases involving double levy concerns, are expected to see faster resolution, he noted.
“This clarity will help unlock delayed registrations and accelerate sales closures in the coming quarters. On average, first-time homebuyers impacted by double taxation can save between Rs 2 lakh and Rs 6 lakh, depending on the property value and construction agreement,” he said.
“The move encourages both developers and homebuyers to adopt a permanent shift to composite registration for future projects. By resolving hardships during the transition phase, this order strengthens confidence in composite registration as a stable, transparent, and long-term framework,” he added.