Maharashtra Government Announces Concession in Stamp Duty for Women

Maharashtra Government Announces Concession in Stamp Duty for Women

The Senior Deputy Chief Minister of Maharashtra, Ajit Pawar, announces the concession in stamp duty for women. To boost women empowerment and to enhance women activism the government used symbolism of International Women's Day to announce a slew of other schemes aimed at women in the budget.

Conditions to avail this concession

Following are the conditions to claim this benefit

· The concession can be taken only with respect to property.

· The property should be situated at Maharashtra only, as Maharashtra government announced the same.

· The transfer of property or registration of sale deed should be in the name of women only

· If there are joint owners, then all the owners in the property should be women only. If any man owner involves in the joint ownership of property then the concession will be refrained.

· The concession can be avail from 1st April 2021 onwards.

Checkout the below image to know the foremost highlights of concession in stamp duty for women;

Maharashtra Government Announces Concession in Stamp Duty for Women

Rate of Concession

The government proposed concession of 1% in stamp duty rate over the prevailing rate exclusively for women.

For example, if the normal rate of stamp duty is 4% then women will be liable to pay stamp duty at the rate of 3% (4% - 1% = 3%) only.

Check out the recent stamp duty rates and registration charges for more reference in below table;

Stamp duty and registration charges in Maharashtra
CitiesStamp Duty rates till Dec 31, 2020Stamp Duty rates (from Jan to Mar 2021)Registration Charges
Mumbai2%3%For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
Pune3% (Stamp duty 2% + Local Body Tax (LBT) 1%)4% (Stamp duty 3% + Local Body Tax (LBT) 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
Thane3% (Stamp duty 2% + Local Body Tax (LBT) 1%)4% (Stamp duty 3% + Local Body Tax (LBT) 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
Navi Mumbai3% (Stamp duty 2% + Local Body Tax (LBT) 1%)4% (Stamp duty 3% + Local Body Tax (LBT) 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
Pimpri Chinchwad3% (Stamp duty 2% + Local Body Tax (LBT) 1%)4% (Stamp duty 3% + Local Body Tax (LBT) 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
Nagpur3% (Stamp duty 2% + Local Body Tax (LBT) 1%)4% (Stamp duty 3% + Local Body Tax (LBT) 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
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