#RealtyNewsRoundup: Maharashtra Raises Stamp Duty On Gift Deeds

The state Legislative Assembly has amended the Maharashtra Stamp Duty Act to increase the charges on gift deeds to three per cent of the market value of a property. The stamp duty on a gift deed stands at Rs 500 currently. The Assembly also approved an increase of one percentage point in the stamp duty on conveyance deeds in rural and peri-urban areas.

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The Delhi Development Authority has extended the deadline for the 2017 housing scheme by a month (till September 11), after receiving a lukewarm response from the public. Sources said the land-owning agency has received close to 8,000 applications against the 12,072 flats which were up for sale.

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Now, developers in Mumbai will not be able to misuse the common area outside lifts by illegally selling them as part of the apartment to buyers. A new circular by the Brihanmumbai Municipal Corporation has fixed the size of the lobby area outside the lift on each floor and at the mouth of the common staircase of a building. 

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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to slap a minimum penalty of Rs 1 lakh or an amount equivalent of its registration fees, whichever is higher, for ongoing projects registration applications to be received between August 3 and August 16. The project registration fee ranges from a minimum of Rs 50,000 to Rs 10 lakh, depending on the size of the specific project.

Source: Media reports