State Government has increased stamp duty by one per cent applicable from January 1, 2021 till March 31, 2021. Earlier the Government had stated that the hike would be of half per cent only and people would have to pay 3.5 per cent stamp duty. Now, the Government says that people have to pay 4 per cent stamp duty for the last quarter of fiscal year.
Inspector General Registrar and Stamp Duty Controller, Maharashtra State, Pune, on August 31, 2020, had issued a notification where it was clearly mentioned, ‘The discount in Stamp duty has been given. People in Mumbai and Mumbai Suburbs will have to pay 2% stamp duty from September 1 to December 31, 2020. They will have to pay 3% stamp duty from January 1 to March 31, 2021.†The notification further stated, the stamp duty will be 3% (September 1 to December 31, 2020) and 3.5 per cent (From January 1 to March 31, 2021) for the Municipal Corporations, Municipal Councils of Maharashtra excluding Mumbai and Mumbai suburbs. It was very much clear. During mid-December, 2020, a message went viral on social media that the stamp duty to be paid from January 1, 2021 would be four percent.
The Government had issued a press release on December 22 and declared that people would not have to pay four per cent stamp duty; it would be 3.5 per cent as decided earlier. Now, the Government has changed its stand and hiked the stamp duty by half per cent. Now, the residents in Maharashtra other than Mumbai and Mumbai suburbs will have to pay 4 per cent stamp duty. The same would be 5 per cent again from April 1, 2021 onwards. Now, the Government has changed its stand and hiked the stamp duty by half per cent. Now, the residents in Maharashtra other than Mumbai and Mumbai suburbs will have to pay 4 per cent stamp duty. The same would be 5 per cent again from April 1, 2021 onwards.
