Madhya Pradesh revised stamp duty rates by 2% after Maharashtra

Maharashtra which has temporarily slashed the duty since September 1 to revive the sluggish property market.Maharashtra levies a duty of 5% in urban areas and 4% in rural areas. It has cut the same by 3% for transactions up to December 31, and by 2% for transactions between January 1 and March 31 next year, to encourage homebuyers to close deals fast, taking benefits of duty cuts. 

Madhya Pradesh has come under pressure from the real estate sector to cut stamp duty to 2% on property transactions, by taking a cue from the neighbouring state.

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