The policy commission gave a new plan to the government

The policy commission gave a new plan to the government
New Delhi: The policy commission has shown a new solution to the central government to make housing for all the people possible. In order to make the house cheaper, the Government's Think Tank Policy Commission has advised that the central government should release the land stuck in the Land Sealing Act apart from reducing the stamp duty in collaboration with state governments.
The policy commission has said that the central government will give them compensation for the loss to states for reducing stamp duty. The commission has stated in its three-year action plan that land prices are increasing steadily due to blackmoney in the real estate sector. The commission said that there was also a greater reason for the stamp duty to be blackened in the real estate sector due to black money.
The Commission said that it is necessary to bring black money control to reduce the price of land, thus making housing possible for families earning less.
The policy commission has said in its plan that reducing stamp duty will lead to a strong property market and black flow of money will also be reduced. The commission said that there are huge possibilities of raising revenue in states where the stamp duty is more, as more people will be legally transuned by reducing the duty. Gujarat has reduced the stamp duty from 5% to 3.5% and has adopted other ways to compensate the losses.
Apart from the stamp duty, the commission also called Urban Sealing Act a reason for the increase in land prices. The commission said that due to urban sealing act the property prices remain high because a large portion of the land lying vacant disappears from the property market. Although many states have removed this law, in many states, a large portion of the land is trapped under the law's framework. Prioritizing commercial use by evacuating this type of space should be the priority.
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