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Maharashtra Waives Registration Fees for 400–600 Sq Ft Cluster Redevelopment Homes in Mumbai

Concessional stamp-duty valuation using 112 times rent for all replacement area aims to cut household costs to help restart delayed schemes.

For instance, the government used to charge full stamp duty on the additional area in a small cluster redevelopment project covering 4,000 square metres, resulting in high costs. With the new decision, concessional rates will be applicable for plots up to 51.975 square metres. (Praful Gangurde / HT Photo) (HT PHOTO)
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Overview

  • Eligibility covers tenants allotted 400–600 sq ft units under cluster redevelopment within Brihanmumbai Municipal Corporation limits.
  • The Revenue Department approved the change and directed the Inspector General of Registration and Controller of Stamps to implement it on November 18.
  • Original allotted area, mandated additional area and 35% fungible space will be treated as replacement area and assessed at the lower of 112 times rent or the applicable rate for stamp duty.
  • Official estimates indicate savings of about ₹21.14 lakh on a small (~1-acre) project and roughly ₹4.36 crore on a 50,000 sq m cluster.
  • Officials say the policy reduces upfront costs and improves project viability, while some reports highlight its announcement close to the BMC elections and note opposition criticism.