Women homebuyers in the state of Maharashtra were offered a discount of 1% by the state government in the stamp duty. But there were some conditions to avail this discount.
In the last year’s state budget women homebuyers were allowed to avail a concession of 1% stamp duty. So in Mumbai the stamp duty which is at 6% during a home sale registration, a women homebuyer would pay only 5%. But this concession was subject to certain terms and condition.
On Thursday, Devendra Fadnavis delivered the budget of the state and made a very important announcement that will benefit the women homebuyers.
The budget speech of Fadnavis stated that, women will be given 50 per cent. discount on ticket fares in State Transport Corporation buses. Also a woman buyer has been given a one per cent concession in stamp duty for the purchase of a residential unit. As per the existing condition, a woman cannot sell a residential unit to a male buyer for a period of 15 years. The government has said that this condition will be relaxed.
This will enable more women to buy homes as, many earlier feared that if they bought a home availing this discount they would not be able to sell the homes for a decade and half.
However, now this condition has been relaxed and from April 1, women homebuyers can avail the discount and at the same time not fear that they will not be able to sell their own homes when they need to.
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