Earlier, the stamp duty in Mumbai was charged at Rs 7,600 but it has now increased to Rs 25,000 per transaction or a 3.48 per cent extra for transactions up to Rs 5 lakhs.
As the state government of Maharashtra has proposed a hike in the stamp duty of the property transaction, the buyers of the residential and non-residential properties will have to pay a five per cent stamp duty on the market value of the property.
The home buyers within the city may not change their mind as the difference will be very less compared to the investment they need to do for the properties in city location.