AMENDMENTS TO THE BOMBAY STAMP ACT, 1958.

(w.e.f. 25/04/2012)

 

MAHARASHTRA ACT No. VIII of 2012

 

(1) Article 25(b) of Schedule I

If relating to immovable properly situated, --

Stamp Duty

 (i)

within the limits of any Municipal Corporation or any Cantonment area annexed to it or any urban area not mentioned in sub-clause (ii).

5 per cent. of the market value of the property.

 (ii)

within the limits of any Municipal Council or Nagar Panchayat or Cantonment area annexed to it, or any rural area within the limits of the Mumbai Metropolitan Region Development Authority, or the Influence Areas as per the annual statement of rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995.

4 per cent. of the market value of the property.

 (iii)

within the limits of any Grampanchayat area or any such area not mentioned in sub-clause (ii)

3 per cent. of the market value of the property.

(2) Article 25(d) of Schedule I and the existing Explanation II of Article 25(d) is deleted. i.e. slab wise stamp duty deleted.

(3) Articles 5(g-a), 16, 32, 33, 34, 36, 40, 47, 48, 52, 55, 58, 60 & 61 are also amended to reflect the deletion of Article 25(d).