Aurangabad, Latur, Nanded & Parbhani civic bodies to get stamp duty surcharge

The Aurangabad Municipal Corporation or ‘AMC’ along with the civic bodies in Nanded, Parbhani, and Latur in Marathwada are scheduled to receive funds worth over Rs 6.8 crore from the MH state government. 

The money corresponds to a 1% surcharge recovered by the state town planning department on stamp duty payable towards different property transactions during the year 2021-22 in order to generate funds for infrastructure development in these cities. 

While the first installment of Rs 235.7 crore was released in December last year, the second installment has now received an official clearance. In all, 26 municipal corporations across the state will receive funds worth Rs 210 crore towards the aforesaid funding, the latest circular from the state town planning department has said. 

As per official data, the AMC is scheduled to get the maximum share of the funds i.e., t Rs 4.86 crore followed by Nanded-Waghala Municipal Corporation which will receive Rs 1.18 crore, Latur will receive Rs 61.03 lakh, and Parbhani will receive Rs 22.69 lakh.

Pune is to receive Rs 69 crore, Pimpri-Chinchwad will get Rs 24.97 crore, and Nashik will get Rs 10.4 crore are among other cities that have received the maximum amount from the MH state government towards the surcharge levied on the stamp duty.

Civic activist Mr.  Rajendra Datey-Patil said the state government should consider exempting first home buyers from paying an additional 1% surcharge on stamp duty. As Property buying has already been governed by a stringent tax regime and adding more components to it would prove a burden for new buyers.

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