The Maharashtra state government has introduced a special concession on stamp duty for developers of integrated township projects. Under this new policy, developers can avail a one-time 50% rebate on stamp duty during the purchase of land or sale of units, but not both, according to a revenue department official. The government resolution (GR) was issued on June 20, extending the concession to integrated township projects across the state, excluding Mumbai city, Lonavla hill station, and eco-sensitive areas.
The rebate will be applicable to projects that have been cleared by the authority, with retrospective effect from 2018, as stated in the GR. An integrated township refers to a self-sustained “city within a city” concept that incorporates housing facilities, commercial businesses, educational institutions, healthcare facilities, and the necessary infrastructure, including water supply, sewage disposal, roads, and power supply.
Presently, the state government has granted approval for 30 integrated townships, with some projects in various stages of construction, including eight in the Pune region. This initiative aims to encourage more proposals for integrated townships, allowing developers who have not yet availed of the concession to do so for their upcoming projects, explained a revenue official. The GR explicitly states that the developer of a project cleared by the collector or competent authority can only avail the concession once. The reduction in stamp duty is applicable either for the purchase of land from the landowner or for transactions related to agreements to sell or conveyance of any unit within the approved integrated township project.
The Pune Metropolitan Region Development Authority (PMRDA) has received proposals for 13 integrated townships, while several others have been submitted in Thane, Raigad, and Konkan. Developers who have already executed integrated township projects in Pune have expressed their support for the rebate, highlighting that it is part of the integrated township policy. Satish Magar, former national Credai president and developer of Magarpatta and Nanded City townships, stated that the government’s notification will assist other builders in commencing similar projects. Aniruddha Deshpande, MD of City Corporation Ltd and promoter of Amanora Township, emphasized that the GR provides clarity on who can seek the rebate and the necessary permissions required.
Experts in urban planning also welcomed the move, noting that planned cities instead of haphazard developments are crucial. Encouraging developers to announce integrated township projects while ensuring adequate facilities for the residents is seen as a positive step forward, added a retired government town planner. With this stamp duty concession, the Maharashtra government aims to boost the development of integrated townships and create well-planned, self-sufficient urban spaces across the state.
