Maharashtra govt waives stamp duty on farm, crop loans up to ₹2 lakh

The Maharashtra government has waived stamp duty on documents related to agricultural and crop loans of up to Rs 2 lakh to reduce the financial burden on farmers and simplify the loan process, Revenue Minister Chandrashekhar Bawankule said on Saturday. "The decision was taken after it was noticed that farmers were facing an additional financial burden even while availing loans. Chief Minister Devendra Fadnavis has directed that revenue laws and rules be made simpler and more people-friendly, and accordingly, this decision was taken," he said. The revenue and forest department issued a government gazette notification in this regard on January 1. The waiver has come into effect from that date. As per the notification, stamp duty will not be levied on legal documents required for loans up to Rs 2 lakh, including title deeds, deposits, mortgage and pledge papers, guarantee letters, mortgage deeds and loan agreements, according to Bawankule. Earlier, crop loans attracted stamp duty at t