Good news for home buyers in Maharashtra! Govt cuts stamp duty on sale deeds by 3 per cent

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August 26, 2020 10:04 PM

In a major policy decision aimed at boosting the real estate sector, the Maharashtra government on Wednesday decided to slash the stamp duty on sale deed documents by 3 per cent between September 1 and December 31 this year.

home buyersStamp duty cut in Maharashtra.

In a major policy decision aimed at boosting the real estate sector, the Maharashtra government on Wednesday decided to slash the stamp duty on sale deed documents by 3 per cent between September 1 and December 31 this year. The relaxation will continue with the 2 per cent cut from January 1 to March 31 next year, an official statement said.

In another important decision, the state cabinet also decided to postpone all exams being conducted by the state Public Services Commission (MPSC) in view of the COVID-19 situation. The revised schedule for the exams will be announced later, state Chief Secretary Sanjay Kumar told the council of ministers during its meeting.

“The examinations are being deferred due to the COVID-19 pandemic,” he said. The government also announced the ex-gratia of Rs 5 lakh to kin of each person killed in the Mahad building collapse incident. The cabinet also approved a proposal to set up a separate Slum Redevelopment Authority for eight municipal corporations and seven municipal councils, excluding Mumbai, in the Mumbai Metropolitan Region (MMR), with a budgetary allocation of Rs 200 crore.

The headquarters of the MMR-SRA will be located in Thane. “A decision has been taken for effective implementation of slum redevelopment projects in Navi Mumbai, including CIDCO and NAINA areas, and in Thane, Panvel, Kalyan-Dombivali, Bhiwandi-Nizampur, Vasai-Virar, Mira Bhayander and Ulhasnagar municipal corporations,” the Chief Minister’s Office said in a statement.

The new authority will also cover ares under Ambernath, Badlapur, Alibaug, Pen, Khopoli, Matheran and Karjat municipal councils. A study group has been formed for implementation of slum redevelopment projects in other prominent cities in the state, it said.

In a significant decision for the transport sector hit hard by the lockdown, the government has decided to waive vehicle tax on public transport and goods vehicles, it said. The waiver will be effective for the period between April 1, 2020 and September 30, 2020.

“This means for the year 2020-21, 50 per cent tax waiver has been given,” the CMO said. The waiver will be applicable for goods and tourist vehicles, school buses, and vehicles offering private services which pay annual tax, it said, adding that the state exchequer will incur loss of Rs 700 crore due to this decision.

The council of ministers also decided that fishermen who suffered losses as they couldn’t venture into the sea due to ‘Kyarr’ and ‘Maha’ cyclones will be given the ex gratia to the tune of Rs 65.17 crore. The cabinet also extended the scheme to convert additional milk stock into milk powder to September and October, which is expected to benefit 6.51 lakh tribal children and 1.1 lakh lactating mothers.

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