Effective April 1, 2023, stamp duty charges in Maharashtra may increase by 1%, mentions a Loksatta report. With this, the existing stamp duty of 6% in Mumbai will become 7%.
The existing stamp duty of 7% in Navi Mumbai, Pune and Thane will become 8%. Note that many areas in Maharashtra also attract local body tax (LBT) and metro cess. For areas that won’t have these taxes, the stamp duty will remain 7%.
Note that in the Maharashtra Budget, the deputy chief minister and Maharashtra finance minister, Devendra Fadnavis had announced continuation of the rebate of 1% in stamp duty for women home buyers.
Also, IGR Maharashtra is reviewing the ready reckoner rates and is expected to come up with new rates by April 1, 2023. Major areas in big cities are likely to undergo a change in ready reckoner rates and may have to pay more than what they are paying now.
With stamp duty a major income source of the Maharashtra government, the increase in stamp duty is believed to relieve the financial stress of the Maharashtra state exchequer.
Stamp duty Maharashtra charges urban and rural 2023Â
| 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 expected from April 1, 2023 for men | Â Stamp duty rates expected from April 1, 2023 for women |
| Mumbai
(includes 1% metro cess) |
6% | 5% | 7% | 6% |
| Pune
(includes 1% metro cess, metro cess, local body tax and transport surcharge) |
7% | 6% | 8% | 7% |
| Thane
(includes 1% metro cess, local body tax and transport surcharge) |
7% | 6% | 8% | 7% |
| Navi Mumbai
(includes 1% metro cess, local body tax and transport surcharge) |
7% | 6% | 8% | 7% |
| Pimpri-Chinchwad
(includes 1% metro cess, local body tax and transport surcharge) |
7% | 6% | 8% | 7% |
| Nagpur
(includes 1% metro cess local body tax and transport surcharge) |
7% | 6% | 8% | 7% |
