Mumbai, March 18 (NationPress) – The Maharashtra state Assembly has unanimously approved the Maharashtra Stamp (Amendment) Bill, 2026, designed to decentralize administrative authority and facilitate the resolution of a significant backlog of stamp duty refund applications.

During the deliberation, Minister Chandrashekhar Bawankule emphasized that the current centralized system necessitated citizens to travel to Mumbai for even moderate refund claims, resulting in considerable delays and bureaucratic hurdles.

Minister Bawankule introduced the concept of “micro-zoning” to determine Ready Reckoner (RR) rates. This policy shift transitions from broad, zone-based valuations to a more detailed, scientific methodology aimed at addressing economic inequalities in property taxation.

Upon completion of the survey, the zone-specific and plot-specific RR rates will be accessible in a transparent, downloadable PDF format via the Inspector General of Registration (IGR) portal.

“The initial launch of micro-zoning is set to commence on April 1, 2027, concentrating on the Mumbai Metropolitan Region (MMR) and Pune, where socio-economic differences within small areas are most evident, such as in Worli, Parel, and Borivali,” the minister stated.

The revenue department has been tasked with establishing distinct rates for slums and Slum Rehabilitation Authority (SRA) projects, as well as for chawls and older, non-redeveloped buildings, alongside industrial, commercial, and residential classifications.

Micro-zoning for RR fixation will subsequently be rolled out across the rest of Maharashtra, he added.

The minister pointed out a significant flaw in the current system, where small houses, slums, and chawls situated next to luxury towers are taxed at the same RR rate. Micro-zoning will enable the department to distinguish between these buildings even if they reside within the same geographical area.

The government plans to utilize Geographic Information System (GIS) technology to accurately map every property, ensuring plot-wise and building-wise precision instead of applying a uniform rate to an entire street or neighborhood.

Minister Bawankule noted that purchasers of smaller or older flats often find themselves paying disproportionately high stamp duties compared to the actual purchase price, as RR rates are inflated by nearby new developments.

Micro-zoning aims to align RR rates more closely with the actual market conditions of specific micro-markets. While this initiative is anticipated to offer relief to low-income residents, it will also guarantee that high-end commercial and residential projects are valued accurately, preventing developers from exploiting lower average rates to minimize development charges and premiums.