New Delhi, April 7 (IANS) The Supreme Court has ruled that a High Court cannot waive the statutory penalty payable on deficient stamp duty, holding that such power lies exclusively with the competent authority under the relevant Stamp Act. In a significant judgment, a bench of Justices Sanjay Kumar and K. Vinod Chandran set aside a Karnataka High Court order to the extent it had exempted payment of penalty while directing payment of deficient stamp duty on lease documents. The apex court was dea…
Latest Stamp Duty News & Updates
Mumbai, April 1 (IANS) Maharashtra Revenue Minister Chandrashekhar Bawankule said on Wednesday that the state government avoided a proposed 12 to 14 per cent increase in ready reckoner (RR) rates, citing prevailing global and war conditions. “The state government rejected the proposed increase in property rates to protect public interest,” he added. He said micro-zoning would be implemented in metropolitan cities such as Mumbai, Pune, Thane, Nagpur and Chhatrapati Sambhajinagar, under which prop…
Mumbai, March 31 (IANS) In a significant move to bolster the state’s real estate sector, the Maharashtra government has decided not to increase the Ready Reckoner rates for the 2026-27 financial year. The Office of the Inspector General of Registration and Controller of Stamps on Tuesday announced that the rates effective from April 1, 2026, will remain at the status quo compared to the previous year (2025-26). This decision was finalised by Revenue Minister Chandrashekhar Bawankule following …
New Delhi, March 31 (IANS) The city of Mumbai recorded 15,516 property registrations in March, generating over Rs 1,492 crore in stamp duty revenue for the state exchequer, a report said on Tuesday.The report from Knight Frank cited data from the Maharashtra Department of Registrations and Stamps as saying that the March tally is the highest monthly registration volume for the reported month in the past 14 years, surpassing the previous high observed in March 2025.Registrations remained broadly …
Mumbai, March 25 (IANS) The inquiry committee report on the Pune land deal involving Parth Pawar, son of former Deputy Chief Minister late Ajit Pawar, stated that should the police investigation reveal the involvement of any other parties, they shall also be held responsible. It is named Parth Pawar, whom Sheetal Tejwani had given a notarised Power of Attorney for government land, terming the act illegal, incorrect, and criminal. Parth Pawar is now a Rajya Sabha MP from the Nationalist Co…
Jaipur, March 10 (IANS) Chief Minister Bhajanlal Sharma on Tuesday stated that a robust revenue system plays a crucial role in accelerating the state’s development and ensuring that the benefits of public welfare schemes reach the last person in society. He claimed that with this objective, the State Government is continuously working to strengthen revenue collection while also developing a transparent and simplified tax regime.Sharma noted that several initiatives, including a zero-toler…
Chandigarh, Jan 13 (IANS) In a decision aimed at strengthening property rights and easing long-pending legal uncertainties, the Punjab government on Tuesday said it has introduced reforms to benefit residents living in cooperative housing societies.Acting on the directions of Chief Minister Bhagwant Mann, who also holds the Cooperation Department portfolio, the AAP-led Punjab government has approved a comprehensive framework to make registration of cooperative housing properties affordable, secu…
Lucknow, Jan 6 (IANS) The Uttar Pradesh Cabinet, chaired by Chief Minister Yogi Adityanath, has approved a major relief in stamp duty on gift deeds involving commercial and industrial properties transferred between family members. The Cabinet meeting was held on Tuesday.With this decision, the maximum stamp duty payable on such gifts has been capped at Rs 5,000, irrespective of the property’s value or whether it is located in urban or rural areas.Earlier, a similar concession introduced through …
New Delhi, Dec 31 (IANS) Mumbai recorded 1,50,254 property registrations in 2025, the highest in 14 years, with stamp duty collections rising to Rs 13,487 crore, also a 14‑year peak, a report showed on Wednesday.The report from Knight Frank India said the momentum held through year‑end with 14,447 registrations in December that generated Rs 1,263 crore for the state exchequer, marking a 16 per cent year‑on‑year rise in registrations and an 11 per cent increase in stamp duty collections.S…