in a setback to the real estate industry as well as flat buyers the state government on wednesday decided not to extend the cut on stamp duty on property registrations ready reckoner rr rates though remain unchanged for the 202122 financial year the slashing of stamp duty in mumbai from 5 to 2 from september to december 2020 and 3 till march 31 2021 had boosted residential realty sales on a brighter note the 1 stamp duty waiver for women home buyers as announced in the state budget on march 8 would come into effect from thursday the concession is only for residential units and not for land besides the concession will not be applicable if there is a male coowner of the unitthe rr rates revised six months ago would be continued for this financial year stated the state circular issued on wednesday evening state revenue minister balasaheb thorat tweeted that regular rates would be applicable from april 1 confederation of real estate developers associations of india credai national chairman satish magar told toi the government had announced the stamp duty waiver as a shortterm booster after the lockdown we had again approached the government for an extension of the concession for three months the government had its compulsions and did not agree to the extension he saidstate inspector general of registration and stamps shravan hardikar said as per the government direction the annual statement rate for 20212022 would be the same as in 202021the rr rates for residential and commercial properties are announced on april 1 every year in 2020 the revised rates were announced in september because of the covid19 pandemicon an average the rr rates were increased by 174 last year the highest average increase 391 was registered in pune district in mumbai the average upward revision was 06credai national vicepresident shantilal kataria said they had demanded reduction in rr rates as per maharashtra stamp determination of true market value of property rules 1995 we are however happy the government has kept it untouched a certain amount of buoyancy was witnessed in the last five to six months he said suhas merchant national chairman of credais statistics and standards committee said we are happy to see our submission on rr rates has been considered niranjan hiranandani managing director of hiranandani group and national president of naredco said while maharashtra had played a stellar role by announcing the stamp duty waiver last year it could have continued it we will request the state to reconsider its decision he said