RIPS 2024 Stamp Duty Exemption: What a Manufacturer Buying Industrial Land in Rajasthan Actually Gets

A manufacturer buying an industrial plot in the Bhiwadi belt budgets the registry cost the same way everybody else does. Six per cent stamp duty, a surcharge on top of it, one per cent registration. On a ₹3 crore plot in Chopanki or Khushkhera that is roughly ₹18 lakh in duty before anything else, and it goes into the project cost as a fixed number nobody questions.

For an enterprise investing under the Rajasthan Investment Promotion Scheme 2024, that number is not fixed, but it is also not zero the way “100 per cent exemption” sounds like it should be. Three quarters of the stamp duty is exempted outright. The remaining quarter is paid at registry and reimbursed afterward, through a separate process, on separate conditions. That distinction, exemption against reimbursement, decides what actually happens in your bank account on registry day, and it is the part most summaries of this scheme skip.

RIPS 2024 is the policy that governs a purchase made today

This matters enough to state plainly before the numbers: if you are investing in Rajasthan now, you apply under RIPS 2024, not RIPS 2022. The policy itself says so.

RIPS 2024 was issued by the Government of Rajasthan, Finance Department (Tax Division), under Order No. F.12(32)FD/Tax/2024-93A dated 8 October 2024, and amended by Notification No. F.12(32)FD/Tax/2024-Pt-II-03 dated 16 May 2025. Clause 2.2 of the policy document states it without qualification: “New investments made after the launch of this Policy are eligible to apply only under this Policy.” The policy is published on RajNivesh, Rajasthan’s single-window investment portal, which carries the Policy Document, Policy Summary and Policy Guidelines as separate PDFs.

RIPS 2022 has not vanished, but it is closed to a fresh investment. It survives only for enterprises that already have a position under it.

A Bhiwadi-belt manufacturer buying a plot today, with no existing RIPS position, falls in the first row. RIPS 2024 is the only policy in play, and RIPS 2022’s terms, including the “100 per cent exemption” language on the Registration and Stamps Department’s own rate sheet, describe a scheme that is no longer open to you.

Exemption and reimbursement are not the same thing, and RIPS 2024 uses both

RIPS 2024’s own Policy Document states the stamp duty benefit identically across every category it applies to, manufacturing, services, sunrise sectors, MSMEs, industrial parks, and R&D/GCC units: “Exemption from payment of 75% stamp duty and reimbursement of 25% stamp duty.” The same 75/25 split applies to conversion charges.

That sentence has two different mechanisms inside it, and confusing them is the single most consequential misreading of this scheme.

Read plainly: on a ₹3 crore plot at 6 per cent stamp duty, ₹18 lakh, you do not pay ₹13.5 lakh (75%) at all. You pay the remaining ₹4.5 lakh (25%) in cash at registry, the same as any other buyer, and you then file for its reimbursement separately. The eventual net cost can be the same as a full exemption if the reimbursement is approved and paid, but the cash-flow reality at registry, and the paperwork risk sitting on that final quarter, is not.

What has to exist before you register

The exemption on the 75% portion is not automatic on saying the word “RIPS” to the Sub-Registrar. It runs against an Entitlement Certificate (EC), issued by the scheme’s Sanctioning Committee, and RIPS 2024’s Terms & Conditions state that “Entitlement Certificate for Stamp Duty Exemption will be valid for 2 years or till the expiry of the Policy’s operative period, whichever is earlier.”

The sequence that follows from that is the one buyers get backwards: the EC has to exist, and be current, before you rely on the exemption at registration, not applied for afterward as paperwork to tidy up. An instrument presented without a valid EC does not get the 75% exemption retroactively; the position has to be established with the Sanctioning Committee first.

The 36-month clock, and what missing it costs

RIPS 2024 attaches a real, quantified penalty to a stamp-duty exemption that was never followed by production, under its Terms & Conditions:

“New investments/expansion-related investments must achieve commercial production within 36 months of availing stamp duty exemption. In case an entity fails to reach commercial production within 36 months from availing stamp duty exemption: claw back of 50% of applicable stamp duty exemption; a deflator of 0.98 per year will be applicable for all incentives under the policy.”

Two things follow from that sentence. First, taking the exemption starts a clock, and the clock runs against production starting, not against the plot being bought or the shed being built. Second, missing it is not a formality lapse; half of what you were exempted is clawed back, and every other incentive under the policy for that enterprise is reduced by a compounding annual deflator on top. A plot bought years before a factory is actually commissioned is exactly the scenario this clause is aimed at, and it is worth having the production timeline realistic before the EC is applied for, not aspirational.

A cash-flow worked example on a ₹3 crore plot

Registration fee and the surcharge on stamp duty sit outside this mechanism entirely; the policy text quoted above addresses stamp duty and conversion charges, not the registration fee or the surcharge separately, so budget those as payable regardless until the scheme authority confirms otherwise for your specific instrument. Our registry charges in Bhiwadi guide sets out how the surcharge itself is calculated.

What we still cannot tell you, and will not guess at

The Policy Document sets out the exemption/reimbursement structure, the EC requirement and the penal clause in enough detail to publish here with confidence. It does not settle, on the page, every fact specific to your unit:

• Which project category (manufacturing, MSME, services, sunrise, industrial park) your investment falls under, since the incentive slabs and thresholds differ by category
• Whether your specific investment size and sector clear RIPS 2024’s eligibility thresholds
• The exact procedure and timeline for filing the 25% reimbursement claim once you have paid it
• Whether a resale industrial plot, rather than a fresh allotment, qualifies the same way a fresh allotment does

Those are questions for RIICO or the Industries Department, and the sequence matters: establish your Entitlement Certificate position before the registration date is fixed, not after.

Where this sits in an industrial purchase

The exemption is one of several things about industrial land here that behave differently from residential, and it is worth seeing them together, because a buyer who assumes an industrial purchase is a bigger version of a flat purchase gets several things wrong at once.

Our RIICO industrial plots buyer’s guide covers the allotment side, and RIICO plot versus private industrial land covers the choice between the two products. The industrial property hub carries what we handle across the belt.

Common questions

Does RIPS 2024 give a 100 per cent stamp duty exemption? No. It exempts 75% of the stamp duty and reimburses the remaining 25% through a separate claim after you have paid it. The eventual net cost can reach zero, but the mechanism and the cash-flow timing are not the same as a straight 100% exemption.

Is RIPS 2022 still available for a new purchase? No, for an enterprise with no existing RIPS position. RIPS 2024’s own Clause 2.2 restricts new investment to RIPS 2024. RIPS 2022 continues only for enterprises that already hold benefits or a pending application under it.

Does the exemption apply to a resale industrial plot, or only to a fresh allotment? That is a scheme eligibility question the policy text does not settle on this page. Put it to RIICO or the Industries Department with the specific transaction described.

What happens to the 25% if the reimbursement claim is delayed or rejected? The policy document does not fix a guaranteed timeline for the reimbursement claim on this page’s reading of it. Treat the 25% as a real cash outlay at registry, not a formality, until your claim is actually approved and paid.

What if commercial production is delayed past 36 months? A claw back of 50% of the applicable stamp duty exemption applies, plus a compounding 0.98 annual deflator on every other incentive under the policy for that enterprise. Build the production timeline before applying for the Entitlement Certificate, not after.

Does it cover the registration fee and surcharge too? The stamp duty and conversion charge language quoted above does not mention the registration fee or the surcharge separately. Budget both as payable in full until the scheme authority confirms otherwise for your instrument.

Where to check us

The RIPS 2024 figures on this page are transcribed from the Rajasthan Investment Promotion Scheme 2024 Policy Document, Government of Rajasthan, Finance Department (Tax Division), Order No. F.12(32)FD/Tax/2024-93A dated 8 October 2024, as amended by Notification No. F.12(32)FD/Tax/2024-Pt-II-03 dated 16 May 2025, published on RajNivesh. The RIPS 2022 “100 per cent exemption” figure referenced earlier on this page came from the Registration and Stamps Department’s separate rate sheet and describes a scheme that is now closed to new investment under RIPS 2024’s own transition rules.

Eligibility, thresholds and the reimbursement claim procedure specific to your project category are not settled by this page. We would rather publish a page that tells a manufacturer what the policy actually says and points him at the right office than one that tells him he qualifies.

If you are buying industrial land in the Bhiwadi belt and want the land side handled while your finance side settles the scheme question, tell us the requirement: plot size, built-up requirement, power, intended use and timeline, and we will work the site shortlist around your registration date rather than into it.

Continue Reading

Industrial Dharuhera vs Bawal for Industrial Property: What Changes Between the Two

Industrial RIICO Plot Transfer Charges: What Rule 18 Actually Says

Industrial Chopanki vs Khushkhera vs Tapukara: Which Bhiwadi Industrial Area Fits Your Unit