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The state government has unveiled a pioneering measure, offering a one-time concession of 50 percent on stamp duty for developers engaged in integrated township projects. A revenue department official clarifies that developers can avail themselves of this remarkable incentive during the purchase of land or the sale of units. However, they cannot claim it for both transactions. On June 20, a government resolution (GR) was issued declaring this concession applicable to such projects throughout the state, excluding Mumbai City, the Lonavla hill station, and eco-sensitive areas. Remarkably, the concession will also be retroactively granted to projects cleared by the authority since 2018, as stated in the GR.
An integrated township represents a visionary concept, encompassing a self-sustained "city within a city" that harmoniously integrates residential clusters, commercial enterprises, educational institutions, and healthcare facilities. Crucially, comprehensive infrastructure provisions support these developments, including robust water supply systems, efficient sewage disposal facilities, well-designed roads, and reliable power supply networks. At present, the state government has granted approval for an impressive count of 30 integrated townships, with several of them at different stages of construction, notably eight in the Pune region.
A revenue official highlights that this progressive initiative is expected to stimulate an influx of new proposals and encourage developers who have yet to benefit from the concession to consider it for their forthcoming projects. The GR clearly outlines the eligibility criteria, specifying that developers of projects approved by the collector or the competent authority can avail of the concession only once. The remission or reduction in stamp duty, as stipulated in this order, is applicable to the project proponent during the purchase of land from the landowner or any transaction involving the sale or conveyance of units within the designated integrated township project.
Intriguingly, the Pune Metropolitan Region Development Authority (PMRDA) has received an impressive count of 13 proposals for integrated townships, with a notable concentration originating from Thane, Raigad, and Konkan. Experienced developers who have successfully executed integrated township projects in Pune emphasize that the rebate is an integral aspect of the integrated township policy, expressing their satisfaction with the issuance of the government's official notification. Prominent figures such as Satish Magar, former national president of Credai, and Aniruddha Deshpande, MD of City Corporation Ltd. and promoter of Amanora Township, laud the GR for providing clarity on who can avail of the rebate and the requisite permissions needed. A retired government town planner commends the state's endeavour to promote planned cities over haphazard urban development, emphasizing the importance of ensuring that citizens have access to comprehensive facilities in these integrated townships.
Integrated townships are comprehensive urban developments that combine residential, commercial, educational, recreational, and healthcare facilities in a single community. As urban areas face increasing congestion and limited space, integrated townships offer an ideal solution by providing spacious living environments and creating a holistic ecosystem. These townships are gaining popularity due to their sense of community, security, and convenient access to various amenities, making them the preferred choice for modern living in India.
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