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The Goa government has introduced major stamp duty reductions on certain property-related transactions, including mortgage deeds without transfer of possession and trust deeds set up for family or charitable purposes. The proposed amendments aim to reduce financial burden on borrowers and promote formal registration of trusts. This follows earlier incentives offered to cooperative housing societies. The initiative complements ongoing national-level efforts to digitize property registration and strengthen ownership clarity, aligning Goa's reforms with broader real estate modernization across India.
The Goa Legislative Assembly has tabled a new bill proposing significant reductions in stamp duty to make property-related documentation more affordable and accessible. Under the amendment, mortgage deeds where the borrower retains possession of the property will attract only nominal stamp duty. The same applies to instruments executed as additional or substitute security for the original mortgage. Advertisement
The bill also introduces reduced stamp duty rates for trust deeds created for the benefit of family members or for charitable purposes. These changes are expected to lower the cost of formalizing such arrangements, making it easier for individuals and families to secure assets and structure philanthropic or succession plans.
In the past week, this reform was formally presented in the House as part of broader efforts to ease legal and financial compliance for property owners and borrowers in the state.
This is not Goa's first step toward making registration cheaper. A few months ago, the state allowed cooperative housing societies to register sale deeds at a highly discounted stamp duty of INR 1, with an additional INR 1 for registration, provided they did so within the timelines set by the government. This policy was aimed at facilitating collective documentation for apartment owners and housing societies, especially in older projects that had not formalized ownership records.
These state-level actions come at a time when the Central Government is also pushing forward with property registration reforms. A new draft Registration Bill proposes online registration, digital document submissions, and secure electronic storage of records. The proposed changes aim to replace the over-century-old Registration Act of 1908 and bring greater efficiency and transparency to the process.
Meanwhile, the Supreme Court recently clarified that property registration alone does not amount to ownership unless proper title and documentation are in place. This underscores the importance of legally sound and properly executed documents, reinforcing the value of reforms like those now introduced in Goa.
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