Maharashtra Waives Rs 264 Billion in Stamp Duty for Key Projects

19 Jun 2025 CW Team

The Maharashtra cabinet has approved a total stamp duty waiver of Rs 264 billion to expedite three major development initiatives: the Dharavi Redevelopment Project (DRP), the Maharashtra National Law University (MNLU) campus in Goregaon, and the Raigad Pen Growth Centre township.

A waiver of Rs 45 billion has been granted on sub-lease agreements between the Dharavi SPV and the Railway Land Development Authority, facilitating redevelopment of 47.5 acres at Matunga to house over 10,000 railway staff and slum-dwelling families.

For the MNLU campus spanning 35 acres in Goregaon, a conveyance duty waiver of Rs 186 billion will accelerate the transfer process ahead of the foundation stone ceremony. The land, originally assessed at Rs 3,100 billion, will now be developed without incurring this fiscal liability.

Additionally, the state has offered a 50 per cent stamp duty relief—equivalent to Rs 33 billion—on land agreements for the Raigad Pen Growth Centre, a planned township covering nearly 494 hectares. This public-private venture aims to foster development across fintech, education, healthcare, affordable housing, commercial and retail sectors.

These waivers serve the dual purpose of reducing transaction costs and expediting project execution. While the finance department opposed two of the proposals, the cabinet approved them in support of faster rollout for critical infrastructure and urban renewal efforts.

Despite these concessions, the state anticipates generating over Rs 60,000 billion in stamp duty revenue during the current fiscal year, building on Rs 58,000 billion collected in the previous year.

These strategic waivers reflect Maharashtra’s commitment to promoting large-scale development, enhancing infrastructure, and stimulating economic growth across urban and suburban regions.

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