Fee cuts, tax breaks to restore economy Visitors check out home offers at the House and Condo Show held at Queen Sirikit National Convention Center last month. (Photo: Varuth Hirunyatheb) The cabinet on Tuesday authorized fresh home procedures, consistingof brand-new cuts of the transfer cost and raising the limitation for home and condominium rates eligible for the transfer and homemortgage registration cost advantages to 7 million baht, up from the present level of less than 3 million. According to Deputy Finance Minister Krisada Chinavicharana, the cabinet backed a raft of procedures to promote home ownership and promote the genuine estate sector and associated companies. The steps consistof decreasing the transfer cost from 2% to 0.01% of the deal worth, and slashing the homeloan registration charge from 1% to 0.01% of the deal worth. The steps use to the sale of domestic residentialorcommercialproperties such as single homes, duplexes, townhouses, commercial structures, land with structures, and condo systems, with a purchase cost and examined home worth not goingbeyond 7 million baht. The homemortgage quantity should not surpass 7 million baht per agreement. The procedures are indicated to minimize the problem on residentialorcommercialproperty purchasers and promote the genuine estate sector, which contributes up to 10% of GDP, he stated. To certify for comparable present decreases to the transfer and registration charges, systems might not ex
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