Maharashtra waives stamp duty on transfer of flat or land to heirs
TNN | Mar 26, 2015, 12.58 AM IST MUMBAI: Immovable property — land, house or flat — can now be transferred to one's children or blood relatives without paying stamp duty for registration. This will come as a major relief as families won't have to pay a 5% of the ready reckoner rate of the property as stamp duty. Making the announcement, revenue minister Eknath Khadse said an affidavit on a Rs 100 stamp paper would suffice. He later changed it to Rs 500 as the government no longer deals in Rs 100 stamp paper for property matters. In other decisions announced in the House on wednesday , those with 500sq ft or smaller homes do not have to pay the increased property tax and the government will allow twice the transfer of development rights to a landowner in lieu of land surrendered for a public amenity. Replying to a discussion on the budgetary allocation for the urban development department, chief minister Devendra Fadnavis said the government is framing a new poli...