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Tuesday 5 January 2021

Maharashtra cabinet clears proposal to cut govt levies on real estate by 50% until Dec 31, 2021

After reducing stamp duties in the state to boost residential sales, the Maharashtra government on January 6 approved the proposal to cut the premium on real estate projects by half till December 31, 2021. Developers availing of the scheme would have to pay full stamp duty and registration charges on behalf of homebuyers.

At the cabinet meeting chaired by chief minister Uddhav Thackeray, it was decided that the urban development department will give premium concession to construction projects. Projects will have to pay full stamp duty to customers.

It was decided at the meeting that as recommended by the Deepak Parekh Committee, a 50 percent discount will be given on all the various premiums levied by the state government on construction projects till 31.12.2021 and also concessions in the premiums levied by all planning authorities/local administrations at their level. Read More...

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