In what it might be called as a relief, the Maharashtra government has mulled to give extension up to December 31 for the stamp duty amnesty scheme.
According to the Hindustan Times, the scheme was to be concluded on August 31, 2019. The scheme was introduced mainly for property holders and buyers who have not paid appropriate stamp duty at the time of executing and registering their property document. Under the current amnesty scheme, the application will have to be made by the property holder or buyer himself or herself who is a party to the conveyance or transfer document of his or her legal heir or representative or power of attorney holder.
State Revenue Department officer told DNA, "It is under the revenue department's active consideration to extend the amnesty scheme up to December 31. The department is mulling an option of making the amnesty scheme applicable to commercial properties too. However, the final call will be taken by the state cabinet.''
The Maharashtra government on June 19 announced a 90 percent waiver on stamp duty penalties till July 31. The move is aimed at defaulting homeowners and housing societies to pay their dues. According to data available with stamp duty and registration department, nearly Rs 5,000 crore worth of duty is yet to be paid in Maharashtra of which Rs 500 crore is in Mumbai.
The Maharashtra government, in February, had approved an amnesty scheme for the homebuyers in the state who had not completed their property registration. Such homebuyers could complete registration by paying only 10 percent of the penalty on the deficit amount. This scheme is also now available until July-end. This move was aimed at allowing residents of housing societies, especially those under the Maharashtra Housing and Area Development Authority (Mhada), the City and Industrial Development Corporation (Cidco), the Slum Rehabilitation Authority (SRA), to pay their pending dues and complete the deemed conveyance transaction.
The state government had approved of the scheme by amending Section 9(a) of the Maharashtra Stamp Duty Act. According to officials of the state’s revenue department, there were thousands of transactions lying with the department that had an incomplete registration process. With this move, the department aimed to encourage owners of such properties to complete the registration and avoid legal hassle.
