Stamp duty is often the first major saving hotel developers realize under MTP 2024. In Zone B cities like Pune, Nashik, and Nagpur, the exemption is 75% on eligible instruments. Here is a worked example for a ₹10 crore land purchase.
Assumptions
- Land purchase in Pune Municipal Corporation (Zone B)
- Sale deed value: ₹10,00,00,000 (₹10 Cr)
- Applicable stamp duty rate: ~6% (including registration charges)
- Stamp duty NOC obtained prior to land purchase (before DoT NOC for FSI)
- Stamp duty exemption certificate issued by DoT
Calculation
| Item | Without exemption | With 75% exemption (Zone B) |
|---|---|---|
| Stamp duty @ 6% | ₹60,00,000 | ₹15,00,000 |
| Savings | — | ₹45,00,000 |
| Effective rate | 6.0% | 1.5% |
Additional instruments covered
The exemption also applies to lease deeds for tourism project land and mortgage/hypothecation instruments for project finance during the policy period (until 17 July 2034). If you lease the land for 30 years at ₹50 lakh/year, stamp duty on the lease deed is similarly reduced by 75%.
Zone comparison for the same ₹10 Cr deal
| Zone | Exemption % | Duty payable | Savings |
|---|---|---|---|
| Zone A (Mumbai) | 50% | ₹30,00,000 | ₹30,00,000 |
| Zone B (Pune/Nashik/Nagpur) | 75% | ₹15,00,000 | ₹45,00,000 |
| Zone C / STZ (Konkan, etc.) | 100% | ₹0 | ₹60,00,000 |
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