19.1 Annual Statement of Rates and stamp duty notes

1. 19.1.1Maharashtra Stamp Act 1958: instrument, conveyance, market value (s.2) and the ASR as the measure of true market value

   Stamp duty in Maharashtra is charged on the instrument, and for a conveyance it is charged on the market value of the property or the consideration stated, whichever is higher; the Annual Statement of Rates (ASR) is the yardstick used to test that market value.

   Standard · 9 min · Read here
2. 19.1.2Maharashtra Stamp Act Sections 31–39, 47 and 59: adjudication, reference to the Collector (s.32A), impounding and penalty

   The Collector decides the proper duty in three situations — when a person asks (adjudication, s.31), when a registering officer suspects under-valuation (s.32A), and when an under-stamped document is impounded (ss.33–39) — and the deficit duty is recovered, with a penalty of 2% per month added for impounded instruments (s.39).

   Standard · 9 min · Full course
3. 19.1.3Bombay Stamp (Determination of True Market Value of Property) Rules 1995: preparation, approval and publication of the ASR

   Under the 1995 Rules, the Town Planning and Valuation Department prepares the draft Annual Statement of Rates, the Chief Controlling Revenue Authority (IGR) approves and issues it, and it comes into force every year on 1 April.

   Standard · 8 min · Full course
4. 19.1.4ASR zones and guidelines: built-up rates, floor, parking, corner plots and TDR/FSI valuation

   The ASR gives a zone-wise rate per sq m for open land and for each type of built-up property, and its guidelines adjust that rate for the actual property — carpet to built-up area, floor, parking, corner location and development potential (FSI/TDR).

   Standard · 8 min · Full course
5. 19.1.5Bulk land and agricultural land in the ASR: slab-wise deductions and probable NA zones

   A large open plot is not worth its full area × ASR rate, so the guidelines value it slab by slab — first 500 sq m at 100%, the next 1,500 sq m at 90%, the next 2,000 sq m at 80%, and so on — while agricultural land is valued at per-hectare rates, with special rules for land in the probable NA zone.

   Standard · 7 min · Full course
6. 19.1.6ASR depreciation table and construction cost rates

   Under the ASR guidelines an old building is valued lower only on its building (construction) part — land never depreciates — and the guidelines also publish construction cost rates per sq m for RCC, other pucca, semi-pucca and kachcha structures.

   Standard · 7 min · Full course

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