Basically, stamp duty is a type of property tax paid by home buyers while purchasing a property. Like other States in India, Maharashtra, too, levies stamp duty and registration fees on all types of properties including freehold or leasehold, land (agricultural and non-agricultural), independent houses or flats, and residential flats or commercial properties. The Maharashtra Stamp Duty Act, 1958 applies across the entire State of Maharashtra. The Act levies stamp duty on real estate properties at the rate fixed by the State government.

Stamp duty charges are payable at rates based upon several parameters including the market value of the property, area of the property, or various other criteria.

Since a commercial unit includes many amenities, floor space, and security features, the stamp duty on a commercial property is slightly higher as compared to a residential property.

Stamp duty on land purchase is based on the locality and jurisdiction. If your land parcel falls within a municipal locality or an urban area, you need to shell higher stamp duty land tax. Likewise, if the land is located in Panchayat limits, the buyer will have to pay less as compared to the urban region.