The Maharashtra government has relaxed the 15-year lock-in period for women property buyers who get a 1% rebate on their stamp duty.
The government had earlier imposed a restriction on women availing the rebate benefit, barring them from selling residential units to a male buyer for the next 15 years.
The 15-year cap has now been removed, said Deputy Chief Minister Devendra Fadnavis while reading out the Budget proposals.
Manju Yagnik, vice-chairperson of Nahar Group and senior VP of National Real Estate Development Council (NAREDCO) in Maharashtra, has welcomed the move saying that the state is empowering women homebuyers.
“Today, many women are independent entrepreneurs who contribute to the economy. The decision is a good step to encourage many such women,” Yagnik added.