After Madras HC order, IGR issues advisory on concession in stamp duty, registration fee in Special Economic Zone area

Key Points

1. Inspector-General of Registration (IGR) issued an advisory regarding stamp duty and registration fee concessions in Tamil Nadu SEZs.
2. Concessions apply to properties in processing and non-processing zones of Special Economic Zones (SEZ).
3. Concessions require certificates from respective Development Commissioners.
4. The advisory follows a Madras High Court judgment.
5. Special Economic Zones Act, 2005 provides stamp duty remission under certain conditions.
6. Registration fee remission is limited to land, excluding buildings and machinery.
7. District Registrars (Audit) are responsible for monitoring compliance and reporting lapses.