Maharashtra Budget 2023 Stamp Duty Discount: Maharashtra Deputy Chief Minister Devendra Fadnavis today announced a 1% rebate on stamp duty for women. Coming just a day after the International Women’s Day celebration, the Maharashtra Government’s move is expected to make homebuying cheaper for women in the state.
Real Estate experts said that the Maharashtra Government’s move will encourage a sense of homeownership among women in the state while also allowing them to save money spent on the registration of properties.
“The highlight of the state budget of Maharashtra is the continuation of 1% discount in stamp duty for women homebuyers. The move will encourage a sense of homeownership amongst women. The budget was well in line with the infra push announced in the Union Budget. The move towards boosting the infrastructure and connectivity through Maharashtra will open up opportunities for various segments of real estate developments comprising residential, retail, commercial and warehousing. The connectivity boost will drive the rise of new real-estate micro-markets, thus resulting in the emergence of new epicentres of Mumbai and MMR,” said Nitin Bavisi, CFO at Ajmera Realty and Infra India
“With the opportunities that we foresee, it looks promising that the real estate sector will be a key contributor to Maharashtra’s economy that will be of a significant 1/5th share to the goal of a 5 trillion Indian Economy,” he added.
Ram Raheja, Managing Director at S Raheja Realty said that Maharashtra Budget 2023 shows promise in terms of economic development for various communities including by way of 3 lakh homes to be built this year, which will address housing concerns existing in the state.
“The $1 trillion dollar share of Maharashtra in the $5 trillion dollar Indian economy, as envisioned by the government, will see the real estate market as a solid contributor, owing to consistent demand from homebuyers, redevelopment projects, and commercial projects. There is also added incentive to women homebuyers who will enjoy a 1% discount on stamp duty,” said Raheja.
Fadnavis also announced that women will get 50% discount in state transport buses.
Maharashtra Government also plans to construct four lakh new homes under PM Awas scheme, of which 1.5 lakh would be for the backward category, 25,000 for Matang Samaj.