Odisha Flat Owners Face ₹50,000 Stamp Fee for Common Areas
BHUBANESWAR: In an effort to simplify apartment registrations, the state government announced amendments to the Indian Stamp Act, 1899, via an ordinance on Thursday. This initiative aims to alleviate the financial pressures on apartment owners’ associations and eliminate procedural obstacles. The announcement, published in the Odisha Gazette, follows the state cabinet’s green light earlier this January. The amendments are expected to streamline the registration process under the Odisha Apartment (Ownership and Management) Act, 2023, while protecting government revenue. With this ordinance, the framework for implementing the amended stamp duty is now in place. Under the 2023 Act, developers are obliged…