Maharashtra Aims to Double Stamp Duty & Registration Revenue to ₹1 Lakh Crore in 5 Years

In his first 100 days, Revenue Minister Chandrashekhar Bawankule addressed major internal disputes within the department.

Expanding Registration Access Across the State

The "One District, One Registration" model is being upgraded to "One State, One Registration". This means citizens will soon be able to register revenue and property-related documents from any sub-registrar office within Maharashtra, regardless of location. To facilitate this initiative, 85 new sub-registrar offices are planned.

Introducing Micro Zoning for Accurate Ready Reckoner Rates

Reforms in ready reckoner rates are being rolled out through a micro zoning approach. This model acknowledges the stark differences in property values within close proximity. For instance, five-star hotels and slum areas in places like Colaba or Lower Parel cannot be evaluated under the same criteria. 

The new approach will begin with a pilot project in Mumbai and aims to ensure more accurate property valuation, especially in densely populated urban zones.

Combating Illegal Sand Mining through M Sand Policy

Despite various regulatory changes, the sand mafia continues to operate in parts of Maharashtra. To address this, the government has introduced a policy to promote manufactured sand, or M Sand, as an alternative. M Sand will be sourced from mining areas, stone quarries, and recycled construction waste.

This initiative involves a public-private partnership where the government will offer incentives to set up M Sand plants. The goal is to meet demand efficiently and reduce illegal extraction activities, particularly along riverbanks.

Setting Revenue Generation Targets up to ₹1 Lakh Crore

The revenue generated from stamp duty and registration from 2024 to 2025 stands at ₹55,000 crore. By the financial year 2025 to 2026, the department aims to raise it to ₹60,000 crore. Over the next 5 years, the target is to reach ₹1 lakh crore. Work is currently ongoing to develop a detailed roadmap to achieve this ambitious goal.

Enhancing Rural Access through Panand Rasta Yojna

The Panand Rasta Yojana aims to provide direct road connectivity to farms across 40,000 villages in Maharashtra. This massive infrastructure project is part of Mission 2031. It will lay down more than 5 lakh kilometres of access roads at a projected cost of ₹12 lakh per kilometre.

The initiative is designed to support the rural economy by making agriculture more accessible and attractive to the youth. Better infrastructure is expected to reverse the trend of rural to urban migration by providing improved livelihood opportunities.

Read More: Maharashtra Leads India's Real Estate Regulation.

Resolving Issues Around Devasthan Inam Land

Concerns have been raised about the misuse of surplus land granted to temple trusts. To prevent exploitation, the department is considering monetising this unutilised land at the ready reckoner rate. 

A portion of the proceeds would be deposited as fixed income for the temples. The rightful owner would then receive the land based on the current valuation. This policy is still under discussion and aims to strike a balance between religious, legal, and economic considerations.

Conclusion

Maharashtra’s comprehensive revenue and infrastructure reforms signal a determined push towards boosting the rural economy and ensuring transparent, efficient governance.
 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.