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Pune: Existing flat owners in self-redevelopment projects will now have to pay only Rs 1,000 in stamp duty instead of the existing rate of between 5-7% of the total contract value of the property.
The state government on Friday issued a government resolution in this regard to take forward self-redevelopment projects. Maharashtra, However, the GR clarified that home buyers purchasing apartments from the open market in self-redeveloped projects will have to pay stamp duty as per the prevailing market rate.
Representatives of the State Housing Federation said the move would certainly benefit 30-year-old housing societies going for self-redevelopment. Earlier, flat owners in such projects had to pay double the stamp duty.
Advocate Sriprasad Parab, director of state housing, said, “Flat owners in such projects had to pay around 5-7% of the market value depending on the city and district as stamp duty, which has now been reduced to just Rs 1,000 Is.” federation.
Self-redevelopment of old societies like providing affordable housing in cities is the need of the hour Mumbai, Thane and Pune, he added.
State Housing Federation Vice President Suhas Patwardhan said that it is a good step. “The 2019 GR on self-redevelopment had also called for a single-window system to clear such proposals. This should also be implemented with reduced stamp duty,” he said, adding that there was no data on such proposals. . Presently the state.
deputy chief minister Devendra Fadnavis On May 8, the state administration was directed for speedy implementation of the self-redevelopment policy approved by the government in 2019.
Consumer organization Watchdog Foundation demanded that the stamp duty for such projects be reduced to Rs 100. Foundation’s lawyer Godfrey Pimenta said, “If the stamp duty is reduced to Rs 100, many projects will go for self-redevelopment.”
