Stamp Duty Concession for Women

GOOD NEWS FOR WOMEN HOME BUYERS
One percent stamp duty waiver

On the occasion of International Women’s Day, on the 8^th, March 2021, Deputy Chief Minister announces a concession of one percent on stamp duty for females will apply from 1^st, April 2021.

The Maharashtra State Government has announced a concession of 1% on stamp duty for ladies in its budget for 2021-22.

An announcement was made by the deputy chief minister for the women under Rajmata Graha Swamini Yojana who desire to buy residential property (house, flat, bungalow, etc.) and by registration of sale deed (land and commercial properties excluded).

Now women get concession on stamp duty 1% for ladies

Women home buyers can avail a concession of 1% on residential property only and not for commercial or industrial properties. If women desire to purchase the immovable property (residential only) individually or with a co-owner (only female) can avail of the concession of 1% in stamp duty.

Let us understand how a female can get a stamp duty concession of one percent on conditions.

Note: The woman cannot sell the said property to any male person with a lock-in period of 15 years from the date of purchase. If women fail to abide will be liable to pay one percent stamp duty plus penalty on it.

The Concession is applicable from 1st April 2021 by an ORDER by Revenue & Forest Department dated 31st March 2021

Like o calculate stamp duty for women buyers can Calculate Stamp Duty on this unique Calculator

ORDER

Revenue & Forest Department,
Madam Kama Marg,
Hutatma Rajguru Chowk,
Mantralaya, Mumbai-32,

Dated the 31st March, 2021.

Maharashtra Stamp Act

Now, therefore, in exercise of the powers conferred by clause (a) of section 9 of the said Act, the Government of Maharashtra, being satisfied that it is necessary to do so in the public interest, hereby reduces the stamp duty from 1st of April, 2021 by One per cent., as otherwise chargeable under clause (b) of Article 25 of Schedule - I appended to the said Act, on the document or instrument of Conveyance or Agreement to Sell of any type of residential unit (herein after referred to as "the said instrument"), executed or being executed between, ''the Woman/Women Purchaser/s and any Seller or other executant of the said document or instrument", subject to the following conditions, namely:-

Conditions-

(1) No refund shall be granted where the stamp duty has already been paid by any of the parties to the Said instrument, prior to the date of publication of this Order in the Maharashtra Government Gazette.

(2) Any Woman/Women Purchaser/s of the Said instrument availing of remission in the Stamp duty provided by this Order shall not sell any such type of residential unit to any subsequent Male Purchaser/s with in the period of 15 years from the date of purchase of any such type of residential unit, On failure to abide by this condition, such Woman/Women Seller/s of such type of residential unit shall be liable to pay the remitted One per cent. Stamp duty and penalty, as changeable, as if there was no remission in the stamp duty from the beginning;

Provided further that, no such restriction will apply in case of transfer by heirship in case of death of such Woman/Women purchaser/s

Explanation;-

The benefit of reducation in stamp duty provided by this order shall be applicable only for the documents or instruments of Conveyance or Agreement to Sell of any type of residential unit i.e. the flat or individual bungalow or row house or any independent house or any type of tenement where Woman/Women are the Only Purchaserls of such type of residential unit.

sd-
Pritamkumar V. Jawale

Desk officer to Governement