The Maharashtra revenue department has issued a GR on July 14, 2023, for home owners opting for self-redevelopment projects. They will have to pay only Rs 1,000 as stamp duty.
Prior to the new regulation stamp duty was charged around 5 to 7% of the total agreement value.
Note:
1. This GR is not applicable for homebuyers purchasing redeveloped properties from the open market.
2. And members who want to buy extra space in their existing redeveloped society will have to pay prevailing stamp duty for the extra area.
#Self-redevelopment