Stamp duty and registration charges in Maharashtra in 2024

For every property transaction a buyer has to pay a certain amount of tax to the state government known as stamp duty and registration charges.

What is stamp duty and registration charges on property in Maharashtra?

Stamp duty and registration charges in Maharashtra are charged under the Maharashtra Stamp Act. These have to be paid by the buyer to the Maharashtra state government while buying a property in the state.

See also: All about stamp duty in MP

 

What is Maharashtra Stamp Act?

The Maharashtra Stamp Act also known as Bombay Stamp Act 1958 applies to all the instruments mentioned in Schedule 1, on which the stamp duty Maharashtra is payable to the state. Recent amendments in the Act include a revision of

• gift deed stamp duty Mumbai /gift deed stamp duty Mumbai
• inclusion of e-payment of stamp duty Maharashtra
• revision of penalty clauses
• increment of stamp duty in Maharashtra under certain instrument clauses.

See also: Property registration online process and charges in India

Stamp duty Maharashtra: Factors on which it is based

• Age of the person: If the home buyer is a senior citizen, there is a likelihood of him/her getting a reduction in stamp duty in Maharashtra.
• Gender: To encourage women home buyers, the stamp duty for women is less than men home buyers in Maharashtra.
• Age of the property: Based on the ready reckoner rate, if a person invests in an old property, he may get a reduced stamp duty in Maharashtra. However, if the property is a new property, then, there are chances that the stamp duty in Maharashtra will be high.
• Type of property: According to stamp duty and registration charges in Maharashtra, a residential property commands lesser stamp duty than a commercial property .
• Area of the property: The locality in which the property is located has an impact on the stamp duty.
• Market value of the property: The market value of a property determines the kind of stamp duty that will be attached to it.   More the market value, the greater will be the stamp duty that the homebuyer will have to pay.

See also: All about Maharashtra rent agreement stamp duty and registration laws

What are the tax benefits for paying stamp duty in Maharashtra?

Under section 80C of the Income Tax Act, one can avail income tax deductions for payments against stamp duty and registration charges and cess charges. However, note that the total IT deduction under Section 80C is not more than Rs 1.5 lakh.

Stamp duty and registration charges in  Maharashtra in 2024

Cities	Stamp duty rates applicable (w.e.f. April 1, 2022) for men	Stamp duty rates applicable (w.e.f. April 1, 2022) for women	Stamp duty rates from September 1, 2020 till December 31, 2020	Stamp duty rates from January 1, 2021 till March 31, 2021	Registration charges
Mumbai	6% (includes 1% metro cess)	5% (includes 1% metro cess)	2%	3%	Rs 30,000 for properties above Rs 30 lakh   1% of property value for properties below Rs 30 lakh
Pune	7% (includes 1% metro cess, metro cess, local body tax and transport surcharge)	6% (includes 1% metro cess, metro cess, local body tax and transport surcharge)	3%	4%	Rs 30,000 for properties above Rs 30 lakh   1% of property value for properties below Rs 30 lakh
Thane	7% (includes 1% metro cess,  local body tax and transport surcharge)	6% (includes 1% metro cess,  local body tax and transport surcharge)	3%	4%	Rs 30,000 for properties above Rs 30 lakh   1% of property value for properties below Rs 30 lakh
Navi Mumbai	7% (includes 1% metro cess,  local body tax and transport surcharge)	6% (includes 1% metro cess,  local body tax and transport surcharge)	3%	4%	Rs 30,000 for properties above Rs 30 lakh   1% of property value for properties below Rs 30 lakh
Pimpri-Chinchwad	7% (includes 1% metro cess, local body tax and transport surcharge)	6% (includes 1% metro cess, local body tax and transport surcharge)	3%	4%	Rs 30,000 for properties above Rs 30 lakh   1% of property value for properties below Rs 30 lakh
Nagpur	7% (includes 1% metro cess local body tax and transport surcharge)	6% (includes 1% metro cess local body tax and transport surcharge)	3%	4%	Rs 30,000 for properties above Rs 30 lakh   1% of property value for properties below Rs 30 lakh

Know about: Dombivli east pin code

• Properties in urban areas that fall under Municipal Corporation or Municipal Council limits have to pay 1% of the property value as cess/local body tax or / transport surcharge. This is used for funding transport infrastructure projects including  metros, bridges, flyovers, etc. in the cities of Maharashtra
• Properties in rural areas which fall under Gram Panchayat and not under the jurisdiction of any Municipal Corporation or Municipal Council have to pay 1% of property consideration value as Zilla Parishad cess instead of cess/ surcharge.
• Properties in areas falling under Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT) jurisdiction have to pay an additional surcharge of 0.5% over and above the 1% cess/surcharge that is payable.

Check out: Sale flat in Pune 

Stamp duty of resale flat in Mumbai 2024  

Areas in Mumbai	Stamp duty in Mumbai for men	Stamp duty in Mumbai for women	Registration charges
Within the municipal limits of any urban area	6% of property’s market value	5% of property’s market value	1 % of the property value
Within the limits of any municipal council/ panchayat/ cantonment of any area within MMRDA	4% of property’s market value	3% of property’s market value	1 % of the property value
Within the limits of any gram panchayat	3% of property’s market value	2% of property’s market value	1 % of the property value

Pin code: Bandra pin code

Stamp duty in Navi Mumbai 2024

Areas in Navi Mumbai	Stamp duty in Mumbai	Registration charges
Stamp duty for men	7% of property’s market value	1 % of the property value
Stamp duty for women	6% of property’s market value	1 % of the property value
Stamp duty for joint (men and men)	7% of property’s market value	1 % of the property value
Stamp duty for joint (men and women)	7% of property’s market value	1 % of the property value
Stamp duty for joint (women and women)	6% of property’s market value	1 % of the property value

Check out Tamil Nadu stamp duty

Stamp duty and registration charges Maharashtra on different deeds 

Conveyance deed	Stamp duty rate
Gift deed stamp duty Mumbai and other parts of Maharashtra	3%
Gift deed stamp duty for residential/agricultural property passed on to family members	Rs 200
Lease deed	5%
Power of attorney	5% for property located in municipal areas, 3% for property located in gram panchayat areas.

See also: Everything about land survey maps online Maharashtra

Gift deed stamp duty Maharashtra

• According to Article 34 of the Maharashtra Stamp Act, which was amended in 2017, gift deed stamp duty Mumbai and other parts of Maharashtra is 3% of the property’s value.
• If the property in consideration is a residential or  agricultural property and is gifted (without any payment) to family members, then the stamp duty on gift deed in blood relation in Maharashtra is Rs 200.

Stamp duty 2023 in Maharashtra on lease deed

• In Maharashtra, all the lease agreements have to be registered. The leave and license agreements have to be stamped by a paying a stamp duty of 0.25% of the total rent.

Stamp duty 2024 in Maharashtra on Power of Attorney

• The stamp duty on Power of Attorney (POA) document is based on the  Maharashtra Stamp Act, 1958 and the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995.
• In Mumbai, the  stamp duty to be paid for a POA document is 0.25% of the property’s market value. A property’s market value depends on the government guidelines that is established in that state.

Stamp duty 2024 in Maharashtra for redeveloped housing projects

Under section 4 (1) of the Maharashtra Stamps Act, a nominal stamp duty of Rs 100 will be charged for all Permanent Alternative Accommodation Agreements (PAAAs) of redevelopment projects. Note, if society members are getting additional carpet area free in their homes, they have to pay stamp duty as per the free area.

Stamp duty and registration charges in Maharashtra: No lock-in rule for women 

The Maharashtra government scrapped the 15-year cap that it has imposed on women home buyers in return for availing 1% rebate on stamp duty. With this amendment, women home buyers can sell properties to male buyers anytime even after availing the 1% rebate on stamp duty charges.  Note that women home buyers get a rebate of 1% on stamp duty charges only on residential properties. This is not valid on commercial and industrial properties.

What is the concession on stamp duty charges Maharashtra for investors?

The Maharashtra government has extend the stamp duty waiver period for investors up to three years. Previously, the investors in order to earn benefit of the waiver will sell the properties within one year if buying it.  In such deals, the stamp duty is paid only on property’s price difference rather than on the whole amount.

What are ready reckoner rates in Maharashtra?

Ready reckoner rate is the minimum value that an area commands below which it cannot be sold. This parameter is very important to calculate Stamp duty and registration charges in Maharashtra. It depends on:

Location:  Mumbai is divided into 19 zones that are further classified into 221 sub zones.

Type of property: While commercial property has high ready reckoner rate, the residential property enjoy a lower ready reckoner rate. Again, ready reckoner rate value differs in a residential property too- it’s different for independent house or villa and a flat that are both located in the same area.

Property market value: Ready reckoner rate is based on the market value of the property. Any amenities that are present with the property further impact the ready reckoner rate.

See also: All about land records Karnataka

Ready reckoner rate FY24-25

City	Ready Reckoner rate
Mumbai	2.6 %
Thane	9.48 %
Navi Mumbai	8.90 %
Panvel	9.24%
Vasai	9%
Virar	9%
Pune	6.12%
Pimpri Chinchwad	12.36%
Sholapur	8.08%
Nashik	12.15%
Ahmadnagar	7.72%
Latur	11.93%
Aurangabad	12.38%
Malegaon	13.12%

Stamp duty in Maharashtra is calculated using ready reckoner rates and the property value mentioned in the buyer-seller agreement. For instance, stamp duty in Mumbai for a property located in the municipal limit of urban areas will be 5% of the market value, while a property located within the limits of any gram panchayat will attract 3% stamp duty in Mumbai of the market value.

As per a notification from the state revenue department, the Maharashtra ready reckoner rate for FY24-25 remains unchanged. The last time Maharashtra had revised the ready reckoner rate was in 2022.

How to calculate stamp duty in Maharashtra 2024?

To know approximate the stamp duty to be paid, you can use the stamp duty calculator under stamps section on the IGR Maharashtra website and you will be led to the next page.

See also: Everything about house registration process in Telangana

Choose from the options for which you need to calculate the stamp duty.

For instance, if you want to know stamp duty to be paid in Mumbai on sales deed, then click on sales deed and you will be led to the following page.

Click on municipal corporation, you will be led to

On clicking on Mumbai municipal corporation, you will reach

where you have to enter the consideration value and market value and click on submit and you will get the approximate stamp duty value to be paid.

Example

If the  ready recokner rate for the flats in the Bandra is Rs 85,000 per sqft, the minimum value of a 1,000 sqft flat in the Bandra will be around Rs 8,50,00,000. As per Article 25(b)(a) of the Maharashtra Stamp Act, the total stamp duty including local taxes is Rs 42,50,000.

Property registration charges in Maharashtra 

The property registration charges in Maharashtra are 1% of the total cost for the properties priced below Rs 30 lakh and capped at Rs 30,000 for properties priced above Rs 30 lakh.

Also read: Stamp duty on property registration in Gujarat

Example

If an apartment in Maharashtra is being sold for Rs 60 lakh, the registration fee will be Rs 30,000 as the land value is above Rs 30 lakh. However, if the value of a property is Rs 20 lakh, the registration charges will be 1% of Rs20 lakh that is  Rs 20,000.

How to pay stamp duty in Maharashtra 2024 online?

The most convenient method of paying stamp duty Maharashtra is e-stamping. In this the stamp duty in Maharashtra is paid using RTGS or NEFT. What is an added advantage of this way of paying Maharashtra stamp duty is an applicant would not be able to submit fake documents.

Step 1: Visit the Maharashtra Stamp Duty online payment portal.

Step 2: Click ‘Pay Without Registration’ if you are not registered with the Maharashtra stamp duty portal. If you are a registered user, fill in the login details on the Maharashtra stamp duty portal.

Step 3: If you have selected the ‘Pay Without Registration’ option, you will be redirected to another page on the stamp duty in Maharashtra portal, where you have to choose ‘Citizen’ and select the type of transaction you want to do.

 

Step 4: Choose ‘Make Payment to Register your Document’. Now, you can opt for paying the stamp duty and registration charges together, or stamp duty only, or registration charges only.

See also: All about Vasai virar property tax

 

Step 5: Fill in the details as required such as district, sub-registrar’s office, payment details, party details, property details and property value details in the stamp duty and registration charge website.

Step 6: Choose the payment option for stamp duty and registration charges payment and proceed once done, generate the challan from the stamp duty and registration charge website, which has to be presented at the time of execution of the deed

If you are stuck at any step or you want to generate your challan again, you can drop a mail to [email protected]

Learn about: section 10 10d

What is challan?

A challan is a digital document that mentions the stamp duty that has been paid .You can search a challan on the Mahakosh portal.

How to search challan on Mahakosh portal?

While you can pay the stamp duty and registration charges in Maharashtra 2023 using the Mahakosh portal, you can also use it to search a challan online.

• Login to https://gras.mahakosh.gov.in/echallan/ and click on ‘Search Challan’ on the homepage.
• A new page will open where you have to enter department, district/ treasury, amount, bank, CIN, GRN, payment gateway captcha and click on search.

• Note that challans between April, 1 2008 to March 31, 2017 are archived. You can get the copy of challan by clicking on archived challan tab.

• Click on Search Challan for sales tax department if you want challan for the sales tax department.

• Enter details like department, MSTD Location, Bank, Amount, GRN, CIN, Captcha and click on Search.

Know about: Penthouses in Pune 

List of available banks for E-challan

Allahabad Bank

Andhra Bank

Bank of Baroda

Bank of India

Bank of Maharashtra

Canara Bank

Central bank of India

Corporation Bank

City Union Bank

Dena Bank

DCB Bank

Indian Bank

Indian Overseas Bank

IDBI Bank

Oriental Bank of Commerce

Punjab National Bank

Union Bank

Vijaya Bank

UCO Bank

State Bank of India

Syndicate Bank

Click on ‘All Major Banks, Debit Card, Credit Card are Accepted’ on the Mahakosh portal.

See also: All about Satara (Maharashtra)

Stamp duty and registration charges in Maharashtra: Ways to pay offline 

1. Stamp paper: Stamp duty can be paid using Stamp paper where details of the agreement are written on a paper that is signed by the authorised person once checked. After this the stamp paper is registered at the sub-registrar office after a period of four months.
2. Franking: In this, the stamp duty Maharashtra is paid where in the agreement is printed on a paper that is then submitted to an authorised bank. Once submitted, the documents for stamp duty payment are processed with the help of franking machine.

Stamp duty refund in Maharashtra: Eligibility

• The stamp duty paper is not fit for use due to writing mistakes.
• The stamp paper is unsigned and complete or partial information is filled but is intended not to be used.
• The stamp paper is signed but the transaction is found to be illegal by the party as per Section 31 of Specific Relief Act.
• The court finds the transaction to be entirely illegal since the beginning (Void /ab/ initio) as per Section 31 of Specific Relief Act.
• The person whose signature is essential refuses to sign or has died before signing.
• Any party to the stamp paper document declines signing it.
• Any party to the stamp paper document does not comply with the terms and conditions.
• The value of the stamp for the document is insufficient and the transaction has been completed by using another stamp paper with the correct value.
• The stamp duty paper is spoiled and both parties have executed another stamp paper document for the same purpose.

See also: Importance of AP stamps and registration deed details

How to get stamp duty Maharashtra refund?

To initiate stamp duty Maharashtra refund, it is compulsory to enter information through the online system. Once the information is fed online and a token is allotted, you have to submit the application offline. Mentioned below is the procedure in detail.

See also: All about token money, GST and stamp duty refund when a property deal is cancelled

First you have to log on to the website of IGR Maharashtra and select online services. Here, you have to click on the stamp duty Maharashtra refund application link. Alternatively, you can go to https://appl2igr.maharashtra.gov.in/refund/

Here, click on the check box on understanding the terms and conditions and click on New Entry. Enter mobile number, OTP and captcha.

Then, you will get the stamp duty Maharashtra refund token number. Now create password, confirm password, enter captcha and press ‘Submit’.

For a stamp duty Maharashtra refund, firstly one has to enter all their personal details, their bank account number and the reason for the refund. One has to enter all information about the document like if it is executed or not, registered or not etc. in the particulars of the document.

If the document is registered, and you want a stamp duty refund in Maharashtra , you have to enter the document number, date and SRO details. Likewise, cancellation deed if registered, then registration number and  SRO details should be entered.

Next you have to enter particulars of the stamp including the type- whether it is e-payment, e-SBTR or franking, name of the stamp vendor along with his address, name and details of purchaser of stamp, value of stamp etc. On entering all stamp related details, an ‘Image Code’ in red will appear. You will have to mention that code in the blank frame and press on the ‘register’ button. Post this, your stamp duty in Mumbai/ stamp duty Maharashtra refund information is submitted and you will see the ‘acknowledgement‘ tab . Enter your stamp duty in Mumbai/ stamp duty Maharashtra refund token number in the application that has to be submitted to the office of collector of stamps for initiation of stamp duty refund Maharashtra.

Stamp duty and registration charges: Notice of intimation charges

 

Notice of intimation filed	Charges
Online	Rs 1,000 ( whatever the loan amount be)
Offline	Rs 300 ( by going to the SRO office)

 

Stamp duty and registration charges on past property documents

• While the Maharashtra Stamp Act empowers the collector of a district, to call for documents within a period of 10 years from the registration date of such documents, to verify if the appropriate duty has been paid on the deed, the Bombay High Court has held that stamp duty cannot be collected for inadequately stamped past documents, at the time of its subsequent sale.
• Moreover, according to stamps and registration charges in Maharashtra, if the historical documents are liable to be stamped, the stamp duty shall be recovered only at the market rate prevalent when the transaction took place. Thus stamp duty and registration charge cannot be applied on a retrospective basis.

Stamp duty and registration charges in Maharashtra: Amnesty scheme 2023

• Under the Maharashtra government’s  Mudrank Shulakh Abhay Yojana 2023, stamp duty and penalty that is imposed due to deferred payment for deeds registered or unregistered between January 1, 1980 and December 2020 will be waived off.

Why is the amnesty scheme 2023 important? 

• It is necessary because there are many sale agreements, conveyance deeds and documents that are not stamped under the Maharashtra Stamp Act. Insufficient stamp duty on stamp duty doesn’t legalise the property documents. To legalise one has to pay the deficit stamp duty and penalty, which may burden the people as this may even be up to 400% of the stamp duty.

• Through this amnesty scheme, IGRS Maharashtra will collect revenue on all property documents that are not stamped properly by giving a relief on the penalty amount.

• All the documents should be executed on stamp paper that is bought from the authorised IGRS vendors, franking centre. In case the property documents are executed on fake papers, f the documents are executed on bogus stamp papers, such owners won’t benefit of the amnesty scheme.

Also read all about IGR Maharashtra document search

Maharashtra amnesty scheme 2023: Timeline

Mudrank Shulakh Abhay Yojana	Timeline
Phase-1	December 1, 2023 to February 29, 2024.
Phase -2	March 1 to June 30, 2024

IGR Maharashtra issued a directive detailing the percentage of waivers to be granted under the scheme.To download details related to regularising the property documents, go to IGR Maharashtra website and click on Abhay Yojana present on the right side of the page.

The Maharashtra Stamp Duty Abhay Yojana 2023 under Stamp collector 53 A has been published under Abhay Yojana. This can be accessed on https://igrmaharashtra.gov.in/Home/abhay_yojana . 

Citizens should contact the office of Joint District Registrar and Stamp Collector of the concerned district to take advantage of this.   

You will reach the following page. Click on the area where the property is present and click on download.

You will get all details related to your property and how you can avail the amnesty scheme offer.

See also: Bombay HC rules stamp duty cannot be charged for past transactions

Stamp duty and registration charges in Maharashtra 2024: Adjudication

According to Section 31 of Maharashtra Stamp Act, any person who is party in the instrument can apply to Collector of Stamps along with the instrument for his opinion about Stamp Duty applicable

Click on Adjudication under stamps on the IGRS Maharashtra page. You will reach

Here, enter username, password, captcha and login. If you don’t have username and password, click on Sign up and register first.

After login in, in this, page a person can

• Enter the data relating to his application.
• Upload the copy of instrument as well as the other proofs.
• Know the status of his application.
• Know the query / requirement and to comply it.
• To get the copies of notices and orders (if any).

Application for Section 10D of Maharashtra Stamp Act

Section 10D of Maharashtra Stamp Act mentions that the notified institutions, bodies etc. ensures the proper stamp duty has been paid on the notified types of documents by e-payment mode. You can access https://appl2igr.maharashtra.gov.in/section10d/LoginPG.aspx

The application helps the notified institutions, bodies

• • Register and to create login ids for their branches.
  • Enter data and to stamp duty calculation
  • Pay the stamp duty online.
  • Verify and deface online payment.
  • Upload batch file & do bulk payment
  • Generate the certificate.
  • Generate various reports.

See also : Know all about Mahafood ration card Maharashtra

Housing.com POV

Stamp duty and registration charges are to be known by anyone who is looking at buying a property in Maharashtra. These charges are over and above the cost of the property and thus these have an impact on the budget that you set aside for your property purchase. It is a good idea to know of the various options you can avail of such as buying a property in your wife’s name if buying in Maharashtra, as in this state the stamp duty for women is 1% less than that of men. However, this is not applicable in case of joint registration.

FAQs

When should the stamp duty on gift deed in Maharashtra be stamped?

According to the Maharashtra Stamp Act, all instruments should be stamped before or at the time of execution, or on the next working day following the date of execution. However, if the deed is executed out of the territory, it can be stamped within three months after it is first received in India.

Whose name should be on the stamp duty Maharashtra papers?

The stamp duty Maharashtra papers must be in the name of one of the parties to the transaction and not in the name of the chartered accountant or lawyer of the parties. Also, the date of issue of the stamp paper in Maharashtra for stamp duty must not be more than six months older than the date of the transaction.

How can stamp duty be paid?

Maharashtra stamp duty can be paid by way of adhesive or impressed stamps on the deed. Additionally, the adhesive stamps used on the deed is cancelled at the time of execution so that it is not available for reuse.

What is stamp duty Maharashtra based on- ready reckoner rate or consideration value of property?

For property sale documents, Stamp Duty Maharashtra is payable on whichever is higher- the consideration value of the property that is mentioned in the document or the ready reckoner rates /circle rates that are decided by the government.

Will stamp duty be reduced in 2024 in Maharashtra for developers of integrated townships?

Currently no such announcement has been made by the Maharashtra government. A 50% stamp duty concession for developers of integrated township projects in Thane, Navi Mumbai and Pune was announced by the Maharashtra government in 2023. However, this won’t be applicable to projects in Mumbai and Lonavala.

How can I lower stamp duty in India?

You can register the property in a women’s name, register under-construction property at lower undivided share and avail of tax benefits on stamp duty.

How can I get stamp duty refund stamp in Maharashtra?

The application of refund of stamp duty can be made within two years from the date of cancellation of the sale deed.

How to initiate stamp duty refund?

To initiate stamp duty refund in Maharashtra, you have to enter the information online and get a token. With this token, you have to submit the stamp duty refund form offline.

 

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected]