FAQ

The Maharashtra Stamp Act, enacted in 1958, is a pivotal piece of legislation that holds relevance for all instruments listed in Schedule 1, for which stamp duty is payable to the state. Recent amendments to this Act have introduced changes, including revisions in stamp duty for gift deeds, the introduction of e-payment options for stamp duty, updates to penalty clauses, and adjustments in stamp duty rates for specific instrument categories.

The applicability of stamp duty rates on property transactions varies across Maharashtra, including urban and rural areas, and is determined by factors such as the total transaction cost. Notably, the Maharashtra government implemented a reduction in stamp duty on properties in specific areas, including those under the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal corporations like Pune, Pimpri-Chinchwad, and Nagpur, starting in April 2020. This reduction implies that stamp duty on properties in Mumbai, Pune, and Nagpur now stands at 6% (comprising 5% stamp duty and 1% metro cess).

Stamp duty in Maharashtra is computed based on the ready reckoner rates and the property's value as specified in the buyer-seller agreement. For instance, properties situated within urban municipal limits in Mumbai incur a stamp duty of 6% of the market value. In contrast, properties within gram panchayat limits are subject to a stamp duty of 3% of the market value.

As per the Maharashtra Stamp Act, all instruments subject to duty and executed within Maharashtra should be appropriately stamped either before or at the time of execution, or on the next working day following execution. In cases where the deed is executed outside the territory, stamping can be done within three months of its initial receipt in India.
It is essential to note that stamp papers must be in the name of one of the transaction parties, not in the name of the parties' chartered accountant or lawyer. Additionally, the stamp paper's issuance date should not precede the transaction date by more than six months.
Stamp duty charges can be settled using adhesive or impressed stamps on the deed. Adhesive stamps affixed to the deed are cancelled during execution to prevent reuse.
Roha Realty, a dedicated real estate developer in Mumbai and one of the top real estate developers in the region, ensures compliance with all applicable stamp duty regulations for seamless and transparent property transactions, including residential apartments in Mumbai.

Yes, you can claim tax deductions on the principal amount of your home loan under Section 80C when investing in a residential property with Roha Realty. The Indian government encourages citizens to invest in housing, and a home loan is eligible for this deduction.

When you buy a house through a home loan, it comes with multiple tax benefits, significantly reducing your tax liabilities. This includes deductions for both the principal amount and the interest paid on the home loan.

For properties developed by Roha Realty, if you are paying EMIs for a housing loan, the interest portion of the EMI paid for the year can be claimed as a deduction from your total income, up to a maximum of Rs 2 lakh under Section 24. From Assessment Year 2018-19 onwards, this limit applies to self-occupied house property.

Yes, for properties developed by Roha Realty, if you have bought an under-construction property and are paying EMIs before moving in, you can claim the interest paid during the pre-construction period as a deduction. This deduction is available in five equal instalments starting from the year in which the property is acquired or construction is completed, over and above the deduction you are otherwise eligible to claim from your house property income. However, the maximum eligibility remains capped at Rs 2 lakh.
Roha Realty ensures that you have access to these tax benefits when investing in our residential apartments in Mumbai, making your dream of homeownership more tax-efficient and affordable.