by THO
The Maharashtra Budget 2025 has proposed raising the stamp duty on supplementary documents from ₹100 to ₹500 under Section 4 of the Maharashtra Stamp Act. This will apply when multiple documents are used to complete a single transaction.
It has also proposed to increase the adjudication fee payable on a document under section 31 (1) of the Maharashtra Stamp Act from ₹100 to ₹1,000 for the chargeability of the instrument and to make a provision for depositing the amount of stamp duty primarily payable while filing the executed document.
“The increase in stamp duty for additional agreements from ₹100 to ₹500 offers multiple benefits. It will generate additional revenue for the government, which can be invested in infrastructure development and public welfare initiatives, indirectly supporting the real estate sector. In property transactions, the higher cost is expected to discourage frequent modifications and encourage more comprehensive initial agreements,” Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd said.
Also Read: Mumbai real estate: Property registrations steady in February 2025, stamp duty collections rise 6%
The government has proposed a new provision for an ‘e-stamp certificate’ in sections 10(3) and (4) of the Maharashtra Stamp Act to facilitate citizens’ payment of stamp duty and issue certificates online. “A new provision for ‘E-Stamp Certificate’ is proposed in section 10(3) and (4) of the Maharashtra Stamp Act, to facilitate the citizens to pay stamp duty and issue certificates online,” the budget speech added.
Ajmera said the introduction of the E-Stamp Certificate system has made stamp duty payments more convenient, reducing paperwork and streamlining the process. “This shift not only enhances adherence to legal norms but also accelerates the digitalization of transactions, benefiting all stakeholders,” he said.
The government has also proposed a 7% Motor Vehicle tax on the price of construction vehicles, such as cranes, compressors, projectors, and excavators, on a lump-sum basis, which is expected to generate additional revenue of around ₹180 crore.
The Maharashtra government unveiled a ₹7,00,020 crore budget for 2025-26, focusing on infrastructure, economic growth, and job creation. Deputy Chief Minister Ajit Pawar, while presenting the Mahayuti government’s first budget under Devendra Fadnavis’ leadership, highlighted plans to develop the Mumbai Metropolitan Region into a $1.5 trillion economy by 2047.
Boost to affordable housing
The budget speech added that under the PM Awas Yojana, Urban-1, 2.08 lakh houses have been completed out of the 4.42 lakh sanctioned houses.
“The remaining houses will be completed by December 31, 2025. It is targeted to construct 5 lakh houses over the next five years, with a fund allocation of ₹8,100 crores, under the PM Awas Yojana – Urban 2.0,” Pawar said while presenting the budget.
He added that additional assistance will be provided for innovative construction, technology use, green buildings, and solar systems.
The budget has proposed ₹1,246.5 crore under the scheme expenditure for the Housing Department. Pawar added that the state’s New Housing Policy will soon be announced to achieve the “Housing for all” goal in the next five years.
Mumbai to get third airport by 2030
One of the major announcements in the budget was the proposal for Mumbai’s third airport near Vadhvan Port, which is expected to be operational by 2030.
Pawar also announced that domestic operations at the Navi Mumbai International Airport will begin next month. 85% of the work has already been completed, and successful trial runs have been conducted.
Gulam Zia, Senior Executive Director, Research, Advisory, Infrastructure and Valuation, Knight Frank India said that the Maharashtra State Budget 2025 lays a strong foundation for the state’s real estate and infrastructure ecosystem, creating an enabling environment for long-term urban expansion and economic resilience. The substantial ₹64,000 crore investment in Mumbai’s infrastructure, including road, metro, and transport network enhancements, will not only decongest key corridors but also open up new growth nodes for residential and commercial development.
The expansion of metro networks, with 41.2 km in Mumbai and 23.2 km in Pune and Nagpur, will significantly improve intra-city mobility, strengthening demand in emerging real estate corridors and making transit-oriented development more viable. Beyond connectivity, the budget’s focus on sustainable urban growth is evident in the ₹8,200 crore allocated for urban wastewater recycling and the ₹19,300 crore for irrigation projects, reinforcing water security for expanding urban clusters, he noted.
The ₹1,500 crore set aside for the Dharavi redevelopment project further underscores the government’s commitment to inclusive housing and slum rehabilitation, critical for Mumbai’s urban landscape. Additionally, the push to upgrade 7,000 km of roads to cement roads, coupled with large-scale industrial and logistics infrastructure expansion, will facilitate smoother business operations, attracting corporate occupiers and fueling commercial real estate growth, he said.
“The alignment of infrastructure investments with real estate market dynamics will be crucial in shaping Maharashtra’s urban future. By strengthening connectivity, promoting sustainability, and enabling large-scale housing and commercial developments, the 2025 budget fosters a well-integrated ecosystem that will enhance property values, attract investment, and support Maharashtra’s position as a premier economic and real estate hub,” he added.
