Mumbai, March 19: The Maharashtra Legislative Assembly unanimously passed the ‘Maharashtra Stamp (Amendment) Bill, 2026’ on Wednesday. This bill aims to decentralize administrative powers and expedite the processing of a significant backlog of stamp duty refund applications.
During the discussion, Minister Chandrashekhar Bawankule emphasized that the current centralized system forces citizens to travel to Mumbai even for medium-sized refund claims, leading to delays and promoting bureaucratic red tape.
Minister Bawankule announced the implementation of ‘micro-zoning’ for determining circle rates (RR). This policy shift moves away from broad, area-based assessments towards a more nuanced, scientific approach aimed at addressing economic disparities in property taxation.
He stated that once the surveys are completed, zone-wise and plot-wise RR rates will be made available in a transparent, downloadable PDF format through the Inspector General of Registration (IGR) portal.
The minister noted, “The initial rollout of micro-zoning will begin on April 1, 2027, focusing on the Mumbai Metropolitan Region (MMR) and Pune, where socio-economic disparities are most evident in smaller areas such as Worli, Parel, and Borivali.”
The revenue department has been directed to establish separate rates for slums, Slum Rehabilitation Authority (SRA) projects, chawls, and old, non-redeveloped buildings, as well as for industrial, commercial, and residential uses.
He further mentioned that micro-zoning will subsequently be applied to the rest of Maharashtra for RR determination.
The minister pointed out a significant flaw in the current system, where the same tax rate applies to small homes, slums, and chawls adjacent to luxury buildings. Micro-zoning will assist the department in differentiating between these structures, even if they fall within the same geographical area.
The government is utilizing Geographic Information System (GIS) technology to map each property. This will enable precise pricing based on plots and buildings, rather than applying a uniform rate across entire neighborhoods or areas.
Minister Bawankule noted that buyers of smaller or older flats often pay stamp duty significantly higher than the actual purchase price due to rising RR rates from nearby new developments.
The goal of micro-zoning is to align RR rates more closely with the actual market conditions of specific micro-markets.
This initiative is expected to provide relief to low-income residents while ensuring accurate valuations for high-end commercial and residential projects. It will also prevent developers from paying lower development fees and premiums by using average rates.
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ASh/DKP
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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