MUMBAI: The Maharashtra Government has decided to offer more tax sops to SEZs and co-developers of industrial areas in the State.
The exemption on stamp duty and registration fee in such areas has been extended from 10 to 25 years.
On the total cost of land, stamp duty is 5 per cent and registration fee is one per cent.
The State Cabinet recently decided to extend the tenure of exemptions by 15 years in an attempt to give more impetus to the industrial development in the State.
A press statement issued by the Chief Minister’s Office said the Maharashtra Government brought out an SEZ Policy in 2001 but only in 2007 it was decided to grant exemptions on stamp duty and registration fee for 10 years. The exemption will lapse this year and, therefore, the term of the exemptions has been extended. It will benefit large multi-product SEZ projects, such as the Multi-Modal International Passenger and Hub Airport (MIHAN), Nagpur.