The Maharashtra government has extended its stamp duty amnesty scheme for the third time until June 30, to boost property sales registration revenue.
The state government had earlier on January 31, had extended the term of the stamp duty amnesty scheme up to March 31 this year. And now the second phase of the scheme has been extended from March 31 to June 30 this year.
This stamp duty relief scheme is an attempt to encourage buyers to settle outstanding stamp duty dues by offering them discounts on penalty fees related to delayed stamp duty payments.
The amnesty scheme extension is likely intended to stimulate the real estate market by making it more financially feasible for buyers to finish their transactions. The extension will play a crucial role in upholding the real estate market by facilitating more transactions , in turn supporting the real estate sector, thereby ensuring continuous momentum in the housing market. International property consultancies are of the view that the extension allows for more flexibility for those looking to avail this amnesty scheme with lower penalties under it.
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