Maharashtra Stamp Duty Relief Scheme-2023

If stamp duty has been paid less on your various properties and other transactions and you wish to regularize such documents, then you should take advantage of the ‘Maharashtra Stamp Duty Relief Scheme-2023’. This scheme allows for regularizing documents at a discounted rate, providing proof of value for your documents and offering peace of mind. Property owners, housing societies, flat owners, various companies, partnership organizations, and several other stakeholders can benefit from this scheme. Additionally, it will remove obstacles for redevelopment of buildings and homes.

Nature of the Scheme

This scheme is for regularizing old documents with less paid stamp duty. A significant reduction in both the stamp duty and penalty on such documents has been provided.

1. For documents executed between January 1, 1980, and December 31, 2000, where the stamp duty amount is less than ₹1 lakh; the entire stamp duty and penalty for such documents will be waived.
2. If the stamp duty paid is greater than ₹1 lakh, then 50% of the stamp duty will be waived, and the entire penalty will be waived.
3. If the document was executed between January 1, 2001, and December 31, 2020, then there will be a discount of up to 25% on the less paid stamp duty, and the penalty will be levied nominally between ₹25 lakh to ₹1 crore. Any penalty beyond that amount will be waived entirely.

Scheme Duration

The scheme is valid until March 31, 2024. The scheme will be implemented in two phases.

• First phase: December 1, 2023, to January 31, 2024.
• Second phase: February 1, 2024, to March 31, 2024.

If there is any delay in applying for the discount in the first phase, applicants can still apply in the second phase, but the benefits will be lower.

Procedure to Avail the Scheme

To benefit from the Stamp Duty Relief Scheme, the document must be executed on a stamp paper of any amount regarding the transfer of property. Without this, the applicant will not be eligible to apply for the scheme. To ensure maximum citizens benefit, the government has instructed the Registrar and Controller of Stamps, Maharashtra, to take action and issue demand notices within 15 days after receiving the written application from the concerned parties. If a demand notice has already been issued for a case, there is no need to reassess the stamp duty. In such cases, the relief will be applied immediately, and the demand notice will be issued accordingly. The government is making efforts to ensure that as many citizens as possible benefit from the scheme.

Benefits of the Scheme

This scheme will benefit ordinary citizens by allowing the regularization of documents for the transfer of immovable properties on which less stamp duty was paid. These documents will now receive proper stamp duty, ensuring they are accepted as valid evidence, even though they might not have been recorded as per the rules. As a result, old, dilapidated buildings in urban and rural areas will be encouraged for redevelopment, giving citizens the opportunity to live in new homes. The scheme will also help expedite the transfer process for registered cooperative housing societies that had been pending due to less stamp duty payment. Additionally, stamp duty relief will apply to documents executed as part of company restructuring, mergers, or splits, thereby encouraging these processes and contributing to the state’s economic and social development.

Call for Regularization

Even with the provided relief and penalty waivers, the government has instructed that if property transfers with less paid stamp duty are not deposited in the state’s treasury, action will be taken under Section 46 of the Stamp Act. Furthermore, clear instructions have been issued for initiating civil-criminal actions under Sections 59 and 62 of the Stamp Act. Citizens are urged to avail of the Stamp Duty Relief Scheme and immediately regularize all transactions with less stamp duty.

Establishment of Special Cell

For the successful implementation of the Stamp Duty Relief Scheme, a special control cell has been set up at the office of the District Stamp Officer, along with the Registration Inspector General’s office. Applicants can submit their applications either in person or online at the office of the District Stamp Officer or Sub-Registrar. Application forms are available on the website of the Registration and Stamp Department as well as at the offices of all District Stamp Officers and Sub-Registrars. Detailed information about the scheme is available on the department’s website at www.igrmaharashtra.gov.in under the section ‘Publications Circular – Stamp Duty Relief Scheme’. For any queries or concerns, citizens can contact the concerned District Stamp Officer, Sub-Registrar, or the department’s call center at 8888007777.