Maharashtra Revenue Minister Chandrashekhar Bawankule, on Thursday, clarified that the ₹42 crore stamp duty notice issued by the Registration and Stamps Department in the Koregaon Park land transaction case is absolutely correct and in complete accordance with the rules.
Addressing the media, Bawankule said, “I had announced yesterday that I would personally examine the matter. After detailed examination, it has been found that the Registration and Stamps Department has thoroughly investigated the transaction and taken appropriate action.”
He explained that the original transaction was shown at ₹300 crore, on which ₹21 crore as stamp duty was already levied. Since the transaction pertains to government land and is technically invalid, it will have to be cancelled through reconveyance. As per the provisions of the Stamp Act, an additional ₹21 crore stamp duty will be payable during reconveyance, making the total stamp duty liability ₹42 crore.
The revenue minister avoided naming Parth Pawar or Ajit Pawar and that Parth was involved in the deal despite not being named in the FIR.
“This transaction is technically wrong because government land was sold without authorisation, rendering it a bogus transaction. The land will have to be reverted to the government. However, stamp duty is mandatorily chargeable on the value shown in the transaction document as per the Indian Stamp Act. The amount declared in the document is what matters, not the title,” the minister said, quoting the clarification provided by the Inspector General of Registration and Stamps.
Bawankule emphasised that the notice issued by the department is fully compliant with the law. He further informed that a committee is currently preparing a detailed report on the entire transaction, and the final decision will be taken after receipt of the committee’s report.
