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Home > Forum > Mumbai > Real estate News > Increase in stamp duty on property transactions

Increase in stamp duty on property transactions

Q: Hey, is it true that the Maharashtra govt. has plans to increase stamp duty on property transactions in the Mumbai Metropolitan Region?

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Replies (5)
1
Hi Does anyone have any idea by when this hike in stamp duty will come in to effect. I heard from 1st January, 2014
Swati Vijay Naik


2
Yes very true, the underground metro plan was supposed to be funded under the PPP, but the plan was cancelled due to lack of funds. So according to the new plan, 57% of the cost will be raised via loans from Japan based JICA which will be around 23,000 crores, 10.4 % will be contributed by the State and Center govt. as equity that will be around 2000 crores and another 1,650 crores come through subordinate debt and taxes.
Jerome Fernandez


So, how much do they plan to rise through the stamp duty hike? Will it be sufficient?
Sanjana Jain,  Mumbai
17th October 2013


Oh! Don’t worry, the govt. plans to rise a whopping 1000 crore rupees for the metro project.
Suresh Khanna,  Mumbai
17th October 2013


3
Once this hike happens, the stamp duty over property transactions will be hiked to Six per cent in Mumbai and seven per cent in other areas of the MMR. Pune will also see a hiked price of 7 per cent.
Ravi Waghmare


So when is this expected to happen?
Sandeep Mhatre,  Mumbai
17th October 2013


The proposal is awaiting cabinet approval. And I also here that this proposal is part of the revised plan for the Mumbai metro route-3 project which will connect Colaba to Bandra, Seepz and the Airport.
Ashish Sharma,  Mumbai
17th October 2013


But isn’t the Metro project supposed to be funded by the PPP?
Anuj Gupta,  Mumbai
17th October 2013


4
Why is the government doing this? Now how much is the stamp duty going to be?
Sunil Joshi


Does what the govt. do make any sense to anyone, anyways, jokes apart, the government wants to generate revenue which can be used for the urban transportation projects such as the proposed Metro and monorail corridors.
Ramesk Polekar,  Mumbai
17th October 2013


5
Yes my friend, the govt. plans to hike stamp duty on property transactions in the MMR by another 1%.This is what the recent news speaks...
Arup rajan


Is this only going to be in Mumbai or all over Maharashtra?
Vinay Dixit,  Mumbai
17th October 2013


It is expected that even the Pune region will see a hike in stamp duty on property transactions by another 1 per cent.
Kishore Pathak,  Mumbai
17th October 2013


6

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