CREDAI Chennai Welcomes Tamil Nadu Government’s Stamp Duty Adjustment Relief for Homebuyers

CREDAI Chennai has welcomed the Tamil Nadu Government’s decision to allow homebuyers to adjust stamp duty and registration fees already paid under the earlier registration framework, calling it a significant step towards resolving long-standing taxation concerns in the housing sector.

Commenting on the development, Mr. Mohamed Ali, President, CREDAI Chennai, said the government order effectively addresses the issue of double taxation faced by several homebuyers during the transition to the composite registration system. He emphasized that the successful implementation of the reform must ensure uniformity and fairness so that its benefits reach all affected buyers.

The order permits the adjustment of stamp duty and registration charges already paid on construction agreements registered prior to the introduction of the composite registration framework. This is expected to provide much-needed relief in projects where earlier registrations resulted in a double levy, enabling quicker resolution of pending cases. According to CREDAI Chennai, the move is likely to unlock delayed registrations and accelerate sales closures in the coming quarters. First-time homebuyers impacted by the double taxation issue are expected to save between ₹2 lakh and ₹6 lakh on average, depending on the property value and construction agreement.

Mr. Mohamed Ali added that the clarity provided by the government’s decision will encourage both developers and buyers to adopt composite registration as the preferred model for future projects. By addressing transitional hardships, the order strengthens confidence in composite registration as a transparent, stable, and long-term framework for property registrations in Tamil Nadu.