Homes in Pune now costlier with 1% surcharge on stamp duty
New homes have just become pricier in Pune and PimpriChinchwad with the state government deciding to charge 1% surcharge on stamp duty on purchase of new properties from February 8 to fund the ongoing transport projects, mainly the three Metro routes.
The state government decided to add 1% surcharge on stamp duty to fund the ongoing infrastructure works like Metro, monorail and freeways in the city. It had amended the Municipal Corporation Act in November last year.
The extra surcharge for purchasing new properties was introduced in Mumbai last year. It was rolled out in Pune on February 8.
The urban development department last week issued a notice stating that the government had ordered the additional stamp duty surcharge under Section 149B of the Maharashtra Municipal Corporation Act, 1949, on property purchases in the jurisdiction of the corporations where Metro projects were being executed.