+
Builders urge Maha officials to defer metro cess levy by 2 years
RAILWAYS & METRO RAIL

Builders urge Maha officials to defer metro cess levy by 2 years

Real estate property builders have urged the Maharashtra officials to defer their plan to levy an extra 1% metro cess on property deals within the state by at least two years.

Developers’ body Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI) has written to deputy chief minister Ajit Pawar and income minister Balasaheb Thorat probing for a two-year postponement within the imposition of the cess, which is meant to support metro rail networks and different transportation infrastructure initiatives within the state.

The state authorities plan to levy the 1% metro cess on property deals from April 1.

Its metro cess’ postponement by at least two years could prove to be a significant relief for the sector, particularly in an environment where they are facing increasing cost pressures due to the price of raw materials, and the effects of the geopolitical scenario, Boman Irani, president of CREDAI-MCHI told the media.

Developers consider that a new cess will solely disrupt the continuing restoration of the sector.

They request the state government to review the proposal for an upsurge in the 1% metro cess, Sandeep Runwal – president of National Real Estate Development Council (NAREDCO) Maharashtra, told the media. The burden might be shifted to the homebuyers, leading to a flunk in the sales of the properties and will have a direct impact on the momentum that has been conducted for the past few months.

Following the planned imposition of the metro cess, stamp responsibility on property registration in Pune and Mumbai, which are the nation’s costliest and biggest actual property markets, will be enhanced by one share level. In Mumbai, the stamp responsibility will increase to 6% of the asset’s worth whereas it might increase to 7% in Pune, Nagpur, and Thane.

Image Source

Also read: Mumbai's property registrations witnesses robust momentum in Feb

Real estate property builders have urged the Maharashtra officials to defer their plan to levy an extra 1% metro cess on property deals within the state by at least two years. Developers’ body Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI) has written to deputy chief minister Ajit Pawar and income minister Balasaheb Thorat probing for a two-year postponement within the imposition of the cess, which is meant to support metro rail networks and different transportation infrastructure initiatives within the state. The state authorities plan to levy the 1% metro cess on property deals from April 1. Its metro cess’ postponement by at least two years could prove to be a significant relief for the sector, particularly in an environment where they are facing increasing cost pressures due to the price of raw materials, and the effects of the geopolitical scenario, Boman Irani, president of CREDAI-MCHI told the media. Developers consider that a new cess will solely disrupt the continuing restoration of the sector. They request the state government to review the proposal for an upsurge in the 1% metro cess, Sandeep Runwal – president of National Real Estate Development Council (NAREDCO) Maharashtra, told the media. The burden might be shifted to the homebuyers, leading to a flunk in the sales of the properties and will have a direct impact on the momentum that has been conducted for the past few months. Following the planned imposition of the metro cess, stamp responsibility on property registration in Pune and Mumbai, which are the nation’s costliest and biggest actual property markets, will be enhanced by one share level. In Mumbai, the stamp responsibility will increase to 6% of the asset’s worth whereas it might increase to 7% in Pune, Nagpur, and Thane. Image Source Also read: Mumbai's property registrations witnesses robust momentum in Feb

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code