The state government has announced a one-time 50% concession on stamp duty for developers of integrated township projects.
The concession can be availed of during purchase of land or sale of units, but not for both. A government resolution (GR) was issued on June 20 announcing the concession for such projects across the entire state except Mumbai city, Lonavla hill station, and Eco sensitive areas.
The concession will be given to projects cleared by the authority with retrospective effect from 2018, stated the GR.
An integrated township is a 'city within a city' that includes a combined cluster of housing facilities, commercial business, education, and healthcare facilities, with corresponding infrastructure facilities such as water supply, sewage disposal facilities, roads, and power supply.
Currently, the state government has given approval to 30 integrated townships, some of which are in various stages of construction of which eight are in the Pune region.
The GR clearly mentions that the developer of a project, which has been cleared by the collector or the competent authority, can avail of the concession only once.
The remission or reduction in stamp duty under this order is applicable either for the project proponent for purchase of land from the landowner or transaction of agreement to sell or conveyance of any unit under any user in the notified integrated township project.
