Maharashtra Stamp Act: Meaning, Duty Rates, Benefits and Registration Rules in 2025

The Maharashtra Stamp Act is a legislation that governs the levy and collection of stamp duty on various legal, financial, and property-related documents within the state. It applies to sale deeds, lease agreements, loan agreements, contracts, affidavits, and other instruments. The stamp duty rates under this Act vary depending on the type of document, transaction value, and location. You can pay the stamp duty using physical stamp papers or through online e-stamping platforms like GRAS and IGR Maharashtra. Non-compliance with the law can lead to penalties, fines, or legal disputes. The Act additionally specifies the amount that is to be paid to the state authorities.

Maharashtra Stamp Act - Quick Info

The Maharashtra Stamp Act is a crucial legislation that governs the levy and collection of stamp duty on legal, financial, and property-related documents in the state. Here is the quick info for the Maharashtra Stamp Act: 

Parameter	Details
Name	Maharashtra Stamp Act, 1958
Original Name	Bombay Stamp Act, 1958
Purpose	Imposes stamp duty on instruments to make them legally valid
Applicable Instruments	Sale deeds, conveyance deeds, mortgage, lease, partnership deeds, gift deeds, affidavits, promissory notes
Payment Methods	Physical Stamp Paper, E-Stamping, Franking
Recent Update	Introduction of E-Bond System for online payment and e-stamp certificates (2025)
Registration Requirement	Certain instruments, like property sale deeds, must be registered with the sub-registrar
Penalties & Refunds	Refunds allowed for excess duty; amnesty schemes for outstanding dues
Authority	Department of Registration & Stamps, Maharashtra (igrmaharashtra.gov.in)
Benefits	Legal validity of documents, transparency, and modernisation through e-stamping

The Bombay Stamp Act: A Cornerstone of Revenue Collection in Maharashtra

The Bombay Stamp Act, enacted in 1958, is a pivotal legal framework that governs the collection of stamp duties on document-based transactions within Maharashtra. Originally applied to the greater Bombay region, this act became an integral part of Maharashtra's legislative environment following the state's formation in 1960.

This Act mandates the payment of stamp duty, which is essentially a form of tax, on various documents including transfer deeds, agreements, certificates, bonds, and leases. The primary purpose of this duty is to confer legal authenticity to these documents while generating revenue for state administrative functions.

Over the years, the Bombay Stamp Act has been amended multiple times to respond to the dynamic economic conditions and real estate market of Maharashtra. These amendments ensure that the stamp duty rates are adjusted and practices streamlined to enhance compliance and minimise evasion.

The implementation of this Act is crucial for the state as it not only secures revenue but also supports maintaining a robust legal documentation system, which is fundamental to the functioning of both governmental and private sector transactions.

What is the Maharashtra Stamp Act?

The Bombay Stamp Act 1958, now known as the Maharashtra Stamp Act 1958, applies to every one of the agencies that are referenced in Maharashtra Stamp Act Schedule 1, on which the stamp duty is payable to the state. There was an amendment in the Maharashtra Stamp Act recently, and the changes are inclusive of the modification of stamp duty on the agreement in Maharashtra on gift deeds, the incorporation of electronic payment of stamp duty, an update on penalty clauses, and an increase in the amount of stamp duty under certain instrument provisions.

As of January 25, 2024, there are notable updates regarding the Maharashtra Stamp Act. Firstly, the 1% stamp duty concession for women purchasing residential property continues. This reduction applies to the standard rates, which vary between 2% to 5%, and the previous 15-year lock-in period for beneficiaries was abolished as of May 31, 2023.

Additionally, the Maharashtra government introduced the 'Abhay Yojana' amnesty scheme in December 2023. This scheme, in its second phase until March 31, 2024, allows the regularisation of inadequately stamped documents with reduced penalties. Benefits include a complete waiver of stamp duty and penalties for amounts under Rs. 1 lakh and a 50% waiver on stamp duty with full penalty exemption for amounts over Rs. 1 lakh.

Notably, the stamp duty rates for the fiscal year 2023-24 remain unchanged from the previous year.

Latest Maharashtra Stamp Act

The Maharashtra Stamp Act latest involves several important changes and continuations of previous policies as of 2024:

• Stamp Duty Concession for Women: Maharashtra continues to offer a 1% stamp duty concession for women purchasing residential property. This initiative aims to encourage property ownership among women. The earlier 15-year lock-in period that restricted the resale of these properties to men has been abolished as of May 31, 2023​ (Housing)​.
• Stamp Duty Rates: Standard stamp duty rates have been restored to 5% in Mumbai after a temporary reduction during the pandemic. According to the new act, purchasing a new flat in Pune involves a 5% stamp duty, a 1% metro cess, a 1% local body tax, and a 1% registration charge, capped at ₹30,000. These rates apply from April 2021 onwards, with specific concessions for certain types of properties and transactions​ [1].
• Amnesty Scheme: The Maharashtra government has extended the Stamp Duty Amnesty Scheme until June 30, 2024. This scheme provides relief for properties that had incomplete or missing stamp duty payments dating back to 1980. The extension allows property owners to regularise documents with waived penalties under specified conditions​.

Maharashtra Stamp Act 2015

On 24 April 2015, the original Maharashtra Stamp Act 1958 was affirmed to be called the Maharashtra Stamp Act 2015. There were a few changes made to the Act – the stamp duty rate of certain instruments under Schedule 1 was increased. Therefore, the Maharashtra Stamp Amendment Act 2015 first came into order. 

Legal Implications for the Maharashtra Stamp Act

The Maharashtra Stamp Act carries significant legal implications for individuals and entities involved in property and financial transactions. Any document that is not properly stamped as per the Act is considered invalid in a court of law. This means that agreements, sale deeds, or contracts executed without adequate stamp duty cannot be legally enforced. Additionally, under the Act, understamping or evasion of stamp duty leads to penalties, fines, or prosecution, depending on the type of violation. The authorities have the power to impound unstamped documents until the stamp duty and penalty are paid [2]. 

How is Stamp Duty Payable?

Stamp Duty can be paid by:

• Using Stamp Paper
• Using Adhesive Stamps
• Online Challan
• EBSTR
• Franking

Stamp Duty Rates in Maharashtra

Various factors decide the stamp duty rate on property in the state of Maharashtra (or any state). Naming a few of these factors - the locality of the property - urban or rural, the total cost of the transaction, etc. The Maharashtra Stamp Duty Act 2020 reduced the stamp duty on properties for the next two years. This is only applicable in the areas falling under the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal corporations of Pune, Pimpri-Chinchwad, and Nagpur. This means that stamp duty on properties in Mumbai, Pune, and Nagpur was charged at 5% (4% stamp duty + 1% metro cess).

Cities	Stamp duty rates (w.e.f. April 1, 2021)	Stamp duty rates from September 1, 2020 till December 31, 2020	Stamp duty rates from January 1, 2021 till March 31, 2021	Registration Charges
Mumbai	5% (includes 1% metro cess)	2%	3%	Rs 30,000 (for properties above Rs 30 lakh); 1% (for properties below Rs 30 lakh)
Pune	6% (includes transport surcharge and local body tax)	3%	4%	Rs 30,000 (for properties above Rs 30 lakh); 1% (for properties below Rs 30 lakh)
Thane	6% (includes transport surcharge and local body tax)	3%	4%	Rs 30,000 (for properties above Rs 30 lakh); 1% (for properties below Rs 30 lakh)
Navi Mumbai	6% (includes transport surcharge and local body tax)	3%	4%	Rs 30,000 (for properties above Rs 30 lakh); 1% (for properties below Rs 30 lakh)
Pimpri-Chinchwad	6% (includes transport surcharge and local body tax)	3%	4%	Rs 30,000 (for properties above Rs 30 lakh); 1% (for properties below Rs 30 lakh)
Nagpur	6% (includes transport surcharge and local body tax)	3%	4%	Rs 30,000 (for properties above Rs 30 lakh); 1% (for properties below Rs 30 lakh)

Stamp Duty on Personal Loan in Maharashtra

The stamp duty for a loan agreement in Maharashtra applies to personal loan documents to make them legally valid and enforceable. The charges vary based on certain factors like loan amount, type of bank, and other state regulations [3]. 

• Applicable rate: ₹100 for personal loan agreements (as per Maharashtra Stamp Act).
• Purpose: It legalises the loan document and serves as proof of borrowing.
• Payment mode: Stamp duty rates can be paid online via the GRAS portal or through stamp paper.
• Penalty: Unstamped agreements may be considered invalid or inadmissible in court.

Stamp Duty Rates for Loan Agreements

The loan stamp duty in Maharashtra varies based on the loan type and agreement structure. Below is the table for stamp duty on the loan agreement in Maharashtra [4]:

Type	Amount	Stamp duty rates
Loan agreement	Up to ₹10 lakhs	0.1%
	Above ₹10 lakhs	0.2%
Acknowledgement of debt	Up to ₹10 lakhs	₹50
	Above ₹10 lakhs	₹100
Deposit of title deeds	Up to ₹5 lakhs	0.1%
	Above ₹5 lakhs	0.3%
Loan against property		₹500

Stamp Duty on Hypothecation Agreement in Maharashtra

Stamp Duty on hypothecation agreements for instruments, pledges, and mortgages on home loans in Maharashtra was capped. As per the latest Maharashtra Stamp Act, the stamp obligation on such instruments is currently covered at a greater stamp duty of ₹10,00,000. This revision has been presented with impact from 1 July 2014.

Stamp Duty Charges in Maharashtra on Conveyance Deed

According to the amendments made to the Maharashtra Stamp Act 2015, Article 34 states that 3% of the property’s value is the stamp duty on conveyance deeds (gift deeds). However, suppose a property, residential or Agricultural, is gifted without the family having to pay any sum of money. In that case, the stamp duty rate is Rs. 200 as per Article 34 of the Maharashtra Stamp Act. Below is the table for stamp duty on the conveyance deed in Maharashtra:

Conveyance Deed	Stamp duty rate
Gift deed	3%
Gift deed for residential/agricultural property passed on to family members	₹200
Lease deed	5%
Power of attorney	3% for property located in gram panchayat areas and 5% for property located in municipal areas.

Stamp Duty on Indemnity Bond in Maharashtra

According to Article 35 of Schedule 1 of the Maharashtra Stamp Act 1958, and then the Maharashtra Stamp (Amendment) Act 2015 - the price of the stamp duty on indemnity bonds in Maharashtra is Rs 500.

Stamp Duty on Guarantee Agreement in Maharashtra

According to Article 5(h) (A)(iv), the stamp duty on bank guarantee agreements in Maharashtra is –

• If the loan amount is less than Rupees Ten Lakh - 0.1% of the amount stipulated in the contract, with a minimum of rupees 100.
• If the amount exceeds Rupees Ten Lakh, the stamp duty on the personal guarantee in Maharashtra – 0.2% of the amount agreed in the contract.

Maharashtra Stamp Duty Impact on Property Registration

Property registrations saw a dip of 50% in the month of April as compared to that of the month of March after the Maharashtra government restored the stamp duty rate of 5% from 1 April 2021. According to the state government’s data, in March, before the sanctions were lifted, Maharashtra (excluding Mumbai) saw a record-breaking spike of 2.13 lakh registrations. Only 90,500 registrations were made till 29 April. Maharashtra stamp duty had a huge impact on property registrations.

Official announcement of the cut of stamp duty on loan agreements in Maharashtra had seen a boost in property sales, especially in Mumbai (Bombay, as we know, is one of the most expensive cities in India). There were many Bollywood A-listers, such as Hrithik Roshan and Jahnvi Kapoor, who were seen buying properties. Between September 1 and October 17, 2020, luxurious properties were registered across 25 registration offices in Mumbai that were collectively worth 2200 crores.

Recent Judgements on Maharashtra Stamp Duty

The Bombay High Court, in a recent judgement, directed the Government of Maharashtra to reimburse excess stamp duty within about a month from the date of the receipt of the application. If the authorities fail to do so, they are liable to pay interest at the rate of 12% p.a. The above order applied even to the stamp duty on education loans in Maharashtra. 

In a landmark ruling, the High Court decided in favour of Macrotech Developers Ltd and Palava Dwellers regarding their land purchase under 'Integrated Township Projects' in Kalyan and Bhiwandi. These projects qualified for a 50% reduction in stamp duty. The state initially rejected the combination of this discount with another waiver on stamp duty for conveyance agreements, but the High Court ruled that both concessions are applicable concurrently. Consequently, the state was ordered to refund any excess stamp duty paid within a specified timeframe.

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