Mumbai, Jan 27: In a significant move aimed at boosting the sale of enemy properties in the state, the Maharashtra government on Tuesday approved a waiver of stamp duty on the purchase and sale of enemy properties at the time of first registration. The decision was taken at a cabinet meeting chaired by Chief Minister Devendra Fadnavis.
Waiver to boost buyer participation
The move is expected to encourage greater participation in auctions of enemy properties and help unlock the economic potential of such assets that have remained unsold for years due to low buyer interest.
About enemy properties
Enemy properties are assets left behind by individuals who migrated to enemy countries during wartime. These properties are managed, preserved and disposed of by the Custodian of Enemy Property for India (CEPI), which functions under the Union Ministry of Home Affairs. As per the Enemy Property Act, 1968, the custodian is authorised to sell such properties through auctions.
High costs deter bidders
Officials said that hundreds of enemy properties are located across Maharashtra, but auctions conducted by the CEPI often receive a poor response. One of the key deterrents for buyers has been the high cost involved in purchasing such properties, including stamp duty payable during registration.
Proposal cleared by cabinet
To address this issue, the CEPI had submitted a proposal to the state’s revenue department seeking a waiver of stamp duty at the time of first registration after the issuance of a sale certificate. The cabinet approved the proposal, allowing stamp duty exemption on the first registration of enemy properties.
According to the government, the waiver will reduce the overall cost of purchasing enemy properties, increase buyer participation and accelerate their sale.
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Details of properties in Maharashtra
Maharashtra has a total of 428 enemy properties spread across various districts. These include 177 properties in Mumbai Suburban district, 86 in Thane, 77 in Palghar, 62 in Mumbai city, 11 in Ratnagiri, six in Nagpur, four in Pune, two each in Chhatrapati Sambhajinagar and Jalna, and one in Sindhudurg. The decision is expected to streamline the disposal of enemy properties and improve the effectiveness of auctions conducted by the central custodian.
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