3% stamp duty waiver helped Maharashtra's revenue grow by Rs 367 crore

The Maharashtra government's revenue from registration of documents rose by Rs 367 crore due to a three per cent waiver in stamp duty between September and December 2020, a state minister said on Friday.

Talking to PTI, Revenue Minister Balasaheb Thorat said the stamp duty waiver scheme, introduced in September for four months till December 31, was aimed at reviving the construction and real estate sectors, which were in trouble due to the coronavirus-induced lockdown and resultant economic downturn.

"The stamp duty was six per cent in urban areas and five per cent in rural areas, both of which were brought down by three per cent," he said.

"In four months, the registration of documents rose by 4.11 lakh, or 48.73 per cent, giving the state exchequer higher revenue of Rs 367.73 crore, a rise of 3.97 per cent," he added.

The number of documents registered during these four months was 12,56,224, up from 8,44,636 in the September- December period in 2019, an increase of 4,11,588 documents, Thorat said.

"The revenue generated rose from Rs 9,254.9 crore in this period last year to Rs 9,622.63 crore in September- December this year," the minister said.

"There was a rise in the number of registration of documents by 4,11,588 and increase in revenue by Rs 367.73 crore. The rise in number of documents was 48.73 per cent, and the revenue rise was 3.97 per cent," he said.