Maharashtra announces concession in stamp duty for property in women's name
The government used the symbolism of International Women's Day to announce some schemes aimed at women in the budget.
To cheer women homebuyers, the Maharashtra government on Wednesday announced a 1% concession on stamp duty over the prevailing rates. The rebate in stamp duty charges will be provided if the transfer of house property or registration of sale deed is in the name of a woman, the government said.
In a move that could give impetus to women’s ownership of property, the state government on Monday announced a concession in stamp duty for registering a property solely in a woman’s name.
Ajit Pawar, Deputy Chief Minister and Finance Minister, announced the concession under the Rajmata Jijau Griha-Swamini Yojana.
“I propose a concession in stamp duty of 1 per cent over the prevailing rate exclusively to women provided the transfer of house property or registration of sale deed is in the name of woman or women only,” said Pawar, adding that the concession will be given from April 1, 2021.
He clarified that in joint ownership, the concession in stamp duty would not be given if there is a man as a joint owner with the woman. “Both should be women,” he added.
"Due to this concession, there will be a revenue shortfall of around ₹1,000 crore," he added.
The minister announced the Sant Janabai Social Security and Welfare Scheme for women domestic workers, stating that their condition has deteriorated during the lockdown. “I am announcing a seed capital of Rs 250 crore for this purpose. Various welfare schemes will be implemented for women domestic workers from this fund,” he added.
"With a high number of women homebuyers seen in the past, this step will help prospective homebuyers," he added.