Maharashtra cuts stamp duty for self-redevelopment of old buildings

17 Jul 2023 CW Team

The Maharashtra government has announced that registered cooperative housing societies that choose to self-redevelop will only be required to pay Rs 1,000 as stamp duty for allotment of apartments in the newly constructed building to existing flat owners, making self-redevelopment of old buildings in Maharashtra more financially viable.

Depending on the city and district, the standard stamp duty ranges from 5 to 7 percent of the entire agreement value. Currently, the Pradhan Mantri Aawas Yojana (PMAY), the Central Government's affordable housing program, imposes a Rs 1,000 stamp fee on apartment purchases.

Now that the government resolution (GR) has been published by the Maharashtra Revenue Department, societies that engage in self-redevelopment will also be charged in accordance with the same guidelines.

The GR, however, made it clear that buyers of apartments in self-redeveloped communities who purchase them on the open market will be required to pay stamp duty at the current market rate. Additionally, current members who choose to purchase additional space from their society will be required to pay stamp duty at the going market rate.

Devendra Fadnavis, the deputy chief minister of Maharashtra, had ordered the state administration to expedite the implementation of the self-redevelopment program that the cabinet had authorized back in 2019. Additionally, it was agreed to create a single-window clearance specifically for self-redevelopment in Mumbai, with a three-month turnaround time for applications.

Infrastructure Transport

30 May 2026

Chembur Metro to Boost East Mumbai Links

MMRDA is advancing eastern Mumbai’s urban mobility network, with the upcoming Chembur Metro Station set to emerge as a key interchange and the Mumbai Monorail preparing for relaunch.Dr Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, conducted a site visit to Chembur Metro Station along with Kanhuraj Bagate, Managing Director, MMMOCL. He also visited the nearby VN Purav Monorail Station to review system preparedness and ease of interconnectivity.Once operational, the interchange is expected to offer commuters across the eastern suburbs quicker access, smoother transfers and seamless conne..

Herrenknecht TBMs Drive Thane–Borivali Tunnel Progress

Herrenknecht India has supplied two of the four tunnel boring machines (TBMs) required for the 11-km Thane–Borivali Twin Tunnel Project being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). The project is expected to reduce travel time between Thane and Borivali from 60–90 minutes to around 15 minutes while easing congestion across the Mumbai Metropolitan Region.The first two Single Shield TBMs, named Nayak and Arjuna, feature 13.34-m cutterhead diameters and are designed for hard-rock excavation. They will be deployed to tunnel through the challenging geological..

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..