Stamp duty is one of the most significant costs in any property transaction in Maharashtra. It is levied under the Maharashtra Stamp Act, 1958, and the applicable rate varies based on the type of document, the nature of the transaction, and the location of the property.
For residential properties in urban municipal corporation areas, the standard stamp duty rate is 5% of the market value or agreement value, whichever is higher. In Mumbai city and its suburbs, an additional 1% Metro surcharge is levied, taking the effective rate to 6%. Women purchasers buying property solely in their name are eligible for a 1% concession in certain categories.
The market value is determined with reference to the Annual Statement of Rates (ASR) — commonly known as the Ready Reckoner — published by the Inspector General of Registration, Maharashtra on an annual basis. The stamp duty cannot be computed on an amount lower than the Ready Reckoner value for that property.
Payment of stamp duty is done through the e-SBTR (Electronic Secured Bank and Treasury Receipt) system administered through the IGRS Maharashtra portal. The stamp paper or franking method has largely been replaced by e-SBTR for most property documents in the state.
In addition to stamp duty, a registration fee of 1% of the market value is payable at the Sub-Registrar office at the time of document registration, subject to a maximum cap of ₹30,000 for residential properties.
Certain documents attract concessional or nil stamp duty — such as gift deeds executed in favour of close relatives, or conveyance deeds in favour of housing societies where stamp duty was already paid on the individual flat agreements. A thorough assessment of applicable rates and exemptions before a transaction can result in significant savings.
If you have questions about stamp duty applicable to your specific transaction — whether a sale, gift, redevelopment agreement, or lease — our team can provide a detailed assessment before execution.
Disclaimer
This article is for general informational purposes only and does not constitute legal advice. Laws and procedures are subject to change. Please consult with our team for advice specific to your transaction.
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Legal Documentation & Registration Advisors · Mumbai Metropolitan Region
