Stamp Duty For Certain Instruments Reduced By 50% For ITPs In Maharashtra

Introduction

The Government of Maharashtra vide an Orderdated 15th January 2008¹ which was amended by another Order dated 6th January 2015² ("the said Orders"), has reduced the stamp duty by 50% (Fifty percent) as otherwise chargeable under Article 25 (b) and (d) of Schedule-I to the Maharashtra Stamp Act, 1958 ("the said Act"), on the instrument of first Agreement or Conveyance relating to the sale of property located in the area notified as "the Special Township Project" till the completion period specified in the sanction to the Integrated Township Project / Special Township Project by Urban Development Department ("UDD") / Planning Authority.

The Government of Maharashtra has sanctioned the revised Integrated Township Project Regulations vide three separate notifications for different planning areas ("the said Regulations") and in which there is a provision to grant concession of fifty per cent of stamp duty as otherwise chargeable under the provisions of