Navi Mumbai airport work-related contracts get stamp-duty waivers

The Maharashtra cabinet Tuesday decided not to charge stamp duty for contracts related to the construction of the upcoming international airport in Navi Mumbai near here. Government agency CIDCO is developing the new airport.

The airport construction work includes excavation of minor minerals. The royalty charged for such excavation will also be waived, said a government official after the cabinet meeting at the Mantralaya here. The cabinet also decided to charge a flat stamp duty of Rs 1,000 for tri-party contracts for redevelopment of dilapidated and dangerous buildings in Mumbai. This will reduce the cost of redevelopment, the cabinet note said.

The cabinet also decided to extend the Atal Sahakari Abhiyan, which finances projects of cooperative societies, for the financial year 2019-20.

(With inputs from agencies.)