The Maharashtra government has recently made an announcement benefiting women home buyers. While women property buyers get a one per cent rebate on stamp duty on their purchase, they weren’t allowed to sell the residential units to a male buyer for the next 15 years.
The good news is the state has decided to remove the 15-year cap so that women property buyers continue to enjoy a one per cent concession on stamp duty. However, it must be noted that women home buyers can avail a concession of one per cent on residential properties only, not on commercial or industrial properties. If a woman decides to purchase immovable property (residential only) individually or with a co-owner (female), only then can they avail the concession.
The announcement of the one per cent concession for women was made on International Women’s Day in 2021. The 15-year restriction has now been lifted by the current Deputy Chief Minister, Devendra Fadnavis.