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A major reduction in stamp duty for homes given to families displaced by the Nagpur Smart City project was approved by the Maharashtra Cabinet earlier this week. The state has decided to charge only INR 1,000 as stamp duty for the registration of lease deeds for 28 homes in Mouza Punapur, part of the 'Home Sweet Home' rehabilitation scheme. Previously, stamp duty costs ranged between INR 40,000 and INR 45,000, putting a financial strain on the economically weaker beneficiaries. This decision is expected to ease the registration process and help families regain legal ownership of their new homes.
The Maharashtra Cabinet, led by Chief Minister Shri Devendra Fadnavis, authorized a substantial stamp duty cut for families displaced by the Nagpur Smart City project earlier this week. The Cabinet announced that only INR 1,000 will be charged for the registration of lease deeds for 28 houses allocated to affected families in Mouza Punapur, under the 'Home Sweet Home' rehabilitation scheme. Advertisement
This decision comes as a relief to the beneficiaries, as the stamp duty on such properties was previously between INR 40,000 and INR 45,000, which posed a considerable financial burden on the economically weaker sections of society. The beneficiaries of these homes are primarily from the Economically Weaker Sections (EWS), whose properties were acquired for infrastructure developments under the Smart City initiative.
The move aligns with the Pradhan Mantri Awas Yojana (PMAY), which also provides for nominal stamp duties on homes provided under the housing scheme. Maharashtra's decision is expected to significantly ease the financial pressure on these families, who had already been affected by the displacement caused by the project. By reducing the stamp duty to INR 1,000, the state government aims to streamline the registration process and provide the displaced families with quicker access to legal ownership of their new homes.
This reduction in stamp duty is seen as a part of the government's broader efforts to ensure that those displaced due to urban development projects are not further burdened by exorbitant registration charges. The step also emphasizes the government's commitment to fostering an inclusive urban development model, where the needs of vulnerable populations are taken into account.
The reduction will not only make the registration process more affordable but will also facilitate quicker legal ownership of homes. Furthermore, by aligning with the approach of schemes like PMAY, Maharashtra is setting an important precedent for inclusive and accessible urban development, ensuring that vulnerable populations are not left behind in the face of large-scale infrastructure projects.
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