“In times of Covid-19, when property values under stamp duty laws are higher than what a property can get, a notional tax on a deemed value is a significant deterrent for the correction of property prices. A 20% deviation from the stamp duty value allows for prices to be reasonable and benefits both the seller and the buyer,”  - Sridhar R, Partner, Grant Thornton Bharat, an integrated Assurance, Tax and Advisory firm. 

This article appeared in The Hindustan Times on 8 March 2021.