Bhubaneswar: Following the State Cabinet approval, the Odisha government has issued a gazette notification for the Indian Stamp (Odisha Amendment) Ordinance aimed at simplifying the apartment registration process and safeguarding government revenue.

According to official sources, the amendment seeks to ease procedural hurdles while ensuring proper stamp duty collection.

As per the new provisions, the Association of Allottees will now be required to pay a nominal stamp duty of ₹50,000 for executing the deed of conveyance for transferring common areas and facilities in its favour.

For individual apartment units, a uniform stamp duty of 5% will be levied at the time of registration. This will cover both the apartment unit and the undivided proportionate share in common areas. The move replaces the earlier three-tier slab system of 3%, 4%, and 5%, thereby streamlining the process.

Notably, the State Cabinet had earlier approved the promulgation of the ordinance to amend the Indian Stamp Act, 1899.

The amendment aligns with provisions of the Odisha Apartment (Ownership and Management) Act, 2023, which mandates the transfer of common areas and facilities to the Association of Allottees at the time of executing the first deed of conveyance.

Previously, the Association of Allottees had to pay 5% stamp duty for such transfers, imposing a significant financial burden and often delaying apartment registration. The revised structure is expected to remove these bottlenecks and facilitate smoother property transactions.