Maharashtra Govt. to levy surcharge on stamp duty for urban metro rail project

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Mumbai: Maharashtra residents will have to bear the burden of the upcoming mass rapid transport projects such as the Metro Rail in their cities.  The state government will soon levy additional surcharge on stamp duty for implementing of such vital important urban transport projects.

Currently Metro Rail projects are proposed for Mumbai, Nagpur and Pune cities in Maharashtra.

According to the draft legislation, the state government has proposed one per cent surcharge on the stamp duty on certain instruments such as sale, gift and usufructuary mortgage of immovable property in the cities, where such projects are to be executed. The idea is to facilitate the infrastructure projects by means of required funds.

The funds would be used for mass rapid transport system such as Metro Rail, monorail, sealinks, freeways and Bus Rapid Transport System. The funds would be passed on to the municipal corporation or any other agency that has undertaken the project to ensure its timely implementation.

This would be done by amending the Maharashtra Municipal Corporations Act. A bill pertaining to this is expected to be tabled in the Legislative Assembly on Tuesday.

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