Mumbai stamp duty hike: Milking unaffordable real estate or unavoidable source of funds for infrastructure?
Maharashtra government proposed a 1 per cent surcharge on stamp duty on the sale, lease, gift and mortgage of real estate in Mumbai, which takes the overall stamp duty to 6 per cent. In a city where property prices are already sky high, the proposal has been widely criticised. The government’s rationale behind the hike is that it needs a constant stream of funds for several big-ticket urban transport projects that are underway.
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