Maharashtra govt extends 50% discount on building premiums
Real Estate

Maharashtra govt extends 50% discount on building premiums

The centre has extended the date for a discount on premium payments to January 31, 2022.

The government of Maharashtra has extended the date for the discount in the premium payments. The deadline for the same is now January 31, 2022. Earlier the deadline was December 31, 2021, which was extended till January 15, 2022. The above scheme will be applied specifically to the realty players having a project development file that has been given approval by the municipal corporations in their respective areas.

The developers whose project proposals will be approved after December 31, 2022, will not be permitted to avail the benefits of the order that has been passed. The Maharashtra Cabinet had approved a 50% reduction on January 6, 2021, on all premiums on new as well as under-construction projects.

The developers, who wanted to enjoy the benefits of these concessions, were required to foot the stamp duty tab on behalf of their customers.

Image Source

The centre has extended the date for a discount on premium payments to January 31, 2022. The government of Maharashtra has extended the date for the discount in the premium payments. The deadline for the same is now January 31, 2022. Earlier the deadline was December 31, 2021, which was extended till January 15, 2022. The above scheme will be applied specifically to the realty players having a project development file that has been given approval by the municipal corporations in their respective areas. The developers whose project proposals will be approved after December 31, 2022, will not be permitted to avail the benefits of the order that has been passed. The Maharashtra Cabinet had approved a 50% reduction on January 6, 2021, on all premiums on new as well as under-construction projects. The developers, who wanted to enjoy the benefits of these concessions, were required to foot the stamp duty tab on behalf of their customers. Image Source

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