Acquiring a beach-side abode in Goa has just become a more expensive endeavor. In the recent budget for 2008-09, the state government has adjusted the stamp duty on properties, raising it from the previous average of 2 percent to varying rates contingent upon property values. Under the new framework, the state will maintain a 2 percent stamp duty for lands valued up to Rs 30 lakh. However, for properties valued between Rs 30 lakh to Rs 50 lakh, an additional duty of Rs 90,000 or more will apply. Properties exceeding Rs 50 lakh will incur a stamp duty of 4 percent, while those costing above Rs 1 crore will face a 5 percent levy. State finance minister Mr. Dayanand Narvekar stated, "Everyone wants to own a piece of land in Goa, so let them pay more." To combat the potential undervaluation of properties aimed at evading higher stamp duties, the government plans to establish a benchmark for property prices, which will guide the duty calculations. Moreover, the government has also augmented the infrastructure tax, increasing it from Rs 40 per square meter to Rs 50 for residential constructions and Rs 100 for commercial developments. At the same time, buoyed by a commendable 12 percent growth rate and a revenue surplus of Rs 141.41 crore, the Goa government has resolved to eliminate all loans taken by farmers from the state agricultural department. Furthermore, it will erase the housing loans of farmers borrowed from the director of panchayats. The state has also pledged to facilitate bank loans for farmers up to Rs 5 lakh at an interest rate of 4 percent, with an assurance to cover the difference in rates paid to banks.