Bhubaneswar: In a major relief to Economically Weaker Section (EWS) families, the Odisha Cabinet on Monday decided to significantly relax stamp duty and registration fees for affordable housing units under the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) and other state schemes.
The decision aligns with the mandatory urban reform prescribed by the Ministry of Housing and Urban Affairs (MoHUA), Government of India, for effective implementation of PMAY-U 2.0, which was launched on 17th September 2024.As per the cabinet decision, stamp duty and registration fees for EWS dwelling units up to 60 square metres will be reduced to 0.6% to 0.7%, depending on the gender of the owner. At present, the applicable stamp duty and registration fees in Odisha range between 6% and 7%.
The new rates will bring down the cost to nearly one-tenth of the existing charges, providing substantial financial relief to EWS beneficiaries. The concession will apply to all housing units registered under PMAY-U 2.0 as well as other affordable housing units for EWS beneficiaries developed under any State Government scheme in urban areas of Odisha.
The Odisha Urban Housing Mission (OUHM), the State Level Nodal Agency, has already signed the Memorandum of Agreement with the Ministry of Housing and Urban Affairs to implement the scheme. This reform is expected to make housing more affordable for low-income urban families and accelerate the pace of house construction and allotment in the state.
