Bhubaneswar: The real estate developers are demanding to eliminate stamp duty charges for the development of various projects with land owners. The state has provisions regarding the stamp duty since 2003.Banks recently started insisting for such registration agreements while providing the bank loans and this has made builders and developers little nervous when it comes to the project developments.A memorandum has been submitted to Revenue minister S N Patro regarding the stamp duty by the Confederation of Real Estate Developers Association of India (CREDAI). According to the memorandum, the Real Estate Developers Association (REDA) of Odisha has started planning similar representations.REDA president Pradipta Biswasroy said that the government is taking double stamp duty. First when the builder makes an agreement with the land owners and second, when buyers buy houses from developers. The duplication of the stamp duty must be avoided and a better system must be implemented for the scenario.Odisha government charges the stamp duty at the rate of seven per cent. According to the Indian Stamp Act, 2001 which further amended in 2003, the stamp duty will be chargeable just same like in conveyance deed.Since the government authority has tightened enforcement, banks have made a pre- condition for registered agreements while giving housing loans those builders should register such agreements.CREDAI joint secretary D S Tripathy said that the government should change the stamp duty act to charge developers and builders with a nominal amount to boost the real estate sector in the state.займ на карту без отказов круглосуточновзять кредит онлайн