The Maharashtra Tourism Policy 2024 (MTP 2024), notified on 18 July 2024, replaces the Tourism Policy 2016 for all new projects. If you are planning a hotel, resort, or homestay, understanding what changed is critical — the incentive structure, zone classification, and compliance requirements are materially different.
Key differences at a glance
| Area | Policy 2016 | MTP 2024 |
|---|---|---|
| Policy validity | Expired / superseded | 18 July 2024 – 17 July 2034 (10 years) |
| Capital subsidy (hotels) | Varied by category | 20% of FCI, cap ₹20 Cr |
| Stamp duty exemption | Limited zones | 50% / 75% / 100% by Zone A/B/C/STZ |
| SGST reimbursement | Zone-based | 50% / 75% / 100% for 5–15 years |
| FSI approach | Limited additional FSI | Road-width based up to 5.0 + premium concessions |
| Mega project thresholds | Different slabs | Zone A: ₹300 Cr, Zone B: ₹150 Cr, Zone C: ₹100 Cr |
| Ultra-Mega category | Not defined | ₹500 Cr FCI + 800 jobs (statewide) |
| Homestay incentives | Basic | 15% capital subsidy, cap ₹15 Cr under Category B |
| Single Window | Partial | 10 permits streamlined (GR 2 Nov 2020 reinforced) |
| Travel for LiFE | Not required | Mandatory certification for final registration |
Transition rules for existing projects
Projects initiated under Tourism Policy 2016 that have not yet commenced commercial operations automatically transition to MTP 2024 benefits. Projects that already have a Final Registration Certificate under the 2016 policy continue under their original terms. New investments or term loan disbursements on or after 18 July 2024 qualify under MTP 2024 regardless of when the entity was formed.
What hotel developers gain under MTP 2024
- Higher capital subsidy cap — ₹20 Cr for hotels vs lower caps under 2016
- Structured stamp duty exemption up to 100% in Zone C and STZ
- Zero premium FSI in Vidarbha, Marathwada, and select coastal districts
- Longer SGST eligibility — up to 15 years for Ultra-Mega projects
- Industry status with industrial electricity tariffs
- Non-agricultural tax and development charge exemptions
What to watch out for
- FSI is not a blanket waiver — it is additional FSI based on road width with premium in most cities
- Land cost is excluded from FCI for capital subsidy (included only for SGST cap calculation)
- Capital subsidy disburses over 5 years from COD — not upfront
- All claims require CA-certified statements and Directorate of Tourism verification
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