News & Views on Indian Real Estate

Monday, September 01, 2008

Maharashtra Govt to levy additional stamp duty on property deals

The Maharashtra government is actively considering charging additional stamp duty on property transactions to raise Rs 350 crore for irrigation projects in the state. Mr. R R Patil, Deputy Chief Minister, said one of the major demands from the elected representatives was that the government should immediately take steps to complete the long-pending irrigation projects in these areas. He added that Rs 350 crore would be raised through additional stamp duty, and other Rs 350 crore through budgetary approval.