State Act

The Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965.

147A. Additional stamp duty on certain transfers of immovable properties in 3[* * *] municipal area.— (1) The stamp duty leviable under the Bombay Stamp Act, 1958 (Bom. LX of 1958), on instruments of sale, gift and usufructuary mortgage, respectively, of immovable property shall, in the case of any such instrument relating to immovable property situated in the municipal area, 4[* * * *] and executed on and after such date as may be specified by the State Government by notification in the Official Gazette, be increased by a surcharge at the rate of 5[one] per cent in the case of sale or gift on the value of the property so situated and in the case of an instrument of usufructuary mortgage on the amount secured by the instrument as set forth in the instrument and shall be collected accordingly under the said Act. 6[Provided that, the Stamp duty leviable under the Maharashtra Stamp Act (LX of 1958), on instrument of sale, gift and usufructuary mortgage, respectively, of immovable property shall, in the case of any such instrument relating to immovable property situated in the City,— (a) for the period commencing from the 1st September 2020 and ending on the 31st December 2020, not be increased by any surcharge, under this Sub-section; (b) for the period commencing from the 1st January 2021 and ending on the 31st March 2021, be reduced by a surcharge at the rate of half per cent., under this Sub-section; (c) with effect from the 1st April 2021, in case the State Government reduces or remits the stamp duty under the Maharashtra Stamp Act (LX of 1958), be reduced or remitted by a surcharge at such rate as the State Government may, by an order in the Official Gazette, specify, under this sub-section.] (2) For the purposes of this section, section 28 of the 7[Maharashtra Stamp Act (LX of 1958)] shall be read and enforced as if it specifically required the particulars therein referred to be set forth separately in respect of— (a) the property situated in a municipal area of 1[a Council], and (b) the property situated in any other area. (3) The State Government shall, every year, after due appropriation made by law in this behalf, pay to each Council 2[* * *] a grant-in-aid approximately equal to the amount of additional duty realised on account of the surcharge levied under this section in respect of immovable properties situated within the jurisdiction of that Council. (4) The sum of money required to meet the expenditure by the State Government under sub-section (3) shall be charged on the Consolidated Fund of the State. (5) The State Government may, by notification in the Official Gazette, make rules to carry out the purposes of this section.]