Lower stamp duty will promote house ownership

On purchase of property worth Rs 50 lakh, the buyer would have to pay Rs 4.3 lakh

Besides the cost of the house, a major additional expenditure home buyers have to bear is the cost of stamp duty and registration. National Housing Bank (NHB) is trying to persuade states to lower their stamp duty and registration cost to reduce the burden on home buyers. If the NHB succeeds, stamp duties and registration fees may decline to 5-6 per cent of the basic cost of an apartment or a property, compared with the existing rate that is as high as 12.5 per cent  in some states. Here's a look at the stamp duty rates in various states.