Stamp Duty in Maharashtra to be increased by 1% with effect from 1st April, 2013
The realty sector and property buyers have something to worry. The state government has increased the stamp duty by 1% with effect from April 1.
The government had made provision in the Maharashtra Municipal Corporations (MMC) Act to give 1% of the stamp duty to the civic bodies of Nagpur, Pune, Thane, Pimpri Chinchwad and Navi Mumbai for overcoming any impact of LBT on their revenue.
Accordingly, the Government's urban development department issued a notification on March 13 directing the department of registration and stamps to recover 1% additional stamp duty with effect from April 1.
The notification and letter from department of registration and stamps was received by the office of collector of stamps on Saturday. The stamp duty will be increased on sale-deed-conveyance, gift and mortgage transactions. More details here