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 ra

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Published - Saturday, 28 Jul, 2018

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.