Property in Maharashtra is getting cheaper

In order to revive the real estate sector in Maharashtra, the state government has announced to reduce stamp duty on property transactions. This reduction in stamp duty is applicable from 1 September 2020 to 31 March next year. This reduction is in two slabs. From September 1 to December 31, 2020, stamp duty will be cut by 3 percent for 4 months. At the same time, during the 3 months from January 1 to March 31, 2021, these cuts will be 2 percent. In Maharashtra, stamp duty is 5 percent on properties in Mumbai, Pune, Nagpur and Nashik and 6 percent in other cities.