Maharashtra minister Bawankule says Rs 42 cr stamp duty notice issued in Pune land deal in compliance with law

He explained that the original transaction was shown at Rs 300 crore, on which Rs 21 crore stamp duty was already levied. Since the transaction pertains to government land and is technically invalid, it will have to be cancelled through reconveyance. As per the provisions of the Stamp Act, an additional Rs 21 crore stamp duty will be payable during reconveyance, making the total stamp duty liability a total of Rs 42 crore.

“This transaction is technically wrong because government land was sold without authorisation, rendering it a bogus transaction. The land will have to be reverted to the government. However, stamp duty is mandatorily chargeable on the value shown in the transaction document as per the Indian Stamp Act. The amount declared in the document is what matters, not the title,” the Minister said, quoting the clarification provided by the Inspector General of Registration and Stamps.

Minister Bawankule emphasised that the notice issued by the department is fully compliant with the law.

He further informed that a committee is currently preparing a detailed report on the entire transaction, and the final decision will be taken after receipt of the committee’s report.

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