The Maharashtra Assembly Tuesday passed by voice vote a bill to levy a one per cent surcharge on stamp dutyfor immovable property in Mumbai where crucial urban transport projects are being undertaken.
As per the provisions of the Mumbai Municipal Corporation Act (second amendment) bill, the move is aimed at creating sufficient corpus for such projects.
Currently, a five per cent stamp duty is charged.
The bill was tabled by the Minister of State for Urban Development Ranjit Patil amid a din created by the Opposition demanding tabling of the report of the State Backward Class Commission (SBCC), which had paved the way for reservation for the Maratha community.
The Bhartiya Janata Party (BJP)-led state government had announced to grant quota for the community in jobs and education under a special category on the basis of the SBCC report which identified Marathas as a socially and economically backward class.
As per the provisions of the bill, the additional surcharge will be levied on stamp duty on the instruments of sale, gift, usufructuary mortgage of immovable property in the Brihanmumbai Municipal Corporation (BMC) limits, where such vital important urban transportprojects are being undertaken.
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These projectsinclude expansion of Metro rail, construction of the Sewri-Nhava Sheva sea link, a Bus Rapid Transport System to name a few.
The surchargewill ensurethat sufficient funds will be at the disposal of a municipal corporation or an agency implementing a project.