Stamp Duty Payable on Conveyance/ Transfer of Residential Flat in State of Maharashtra

Stamp Duty Payable on Conveyance/ Transfer of Residential Flat in State of Maharashtra under Bombay Stamp Act, 1958

Stamp Duty is payable under Article 25 in Schedule I to Bombay Stamp Act, 1958.

Stamp Duty is payable on Market Value of Property or agreement Value whichever is higher. Market Value is to be determined by Ready Reckoner published by the State Government every year. Ready Reckoner rates Are revised every Calendar year

Rate applicable for Residential Flat in Cooperative Society including by, conveyance

in favour of, a co-operative housing society registered or deemed to have been registered under the Maharashtra Co-operative Societies Act, 1960 (Mah. XXIV of 1961); or

to which the provisions of the Maharashtra Ownership Flats (Regulation of Promotion of Construction, Sale, Management and Transfer) Act, 1963, (Mah. XLV of 1963) or

the provisions of the Maharashtra Apartment Ownership Act, 1970, (Mah. XV of 1971) apply; or by such society in favour of its member for incoming member (whether in consequence of purchase of its shares or not);

or by a member of such society in favour of another member and incoming member (whether in consequence of transfer of its shares to another member or not);

Market Value of Property	Stamp Duty Payable
does not exceed Rs.2,50,000/-	Rs.100/-
exceed Rs.2,50,000/- but does not exceed Rs.5,00,000/-	Rs100/- plus 3% of the value above Rs.2,50,000/-
exceeds Rs.5,00,000/-	Rs.7,600/- plus 5% of Value above Rs.5,00,000/-