Mumbai, Aug 11: The Maharashtra Cabinet has approved a stamp duty waiver on eligible land transfers between companies belonging to the same group for renewable energy projects, in a move aimed at lowering project costs and encouraging investment in clean energy.
Pic Credit: Pexel
The decision will allow eligible renewable energy companies and special purpose vehicles (SPVs) to transfer land within the same corporate group without paying stamp duty, subject to the applicable conditions.
The Cabinet has also approved a concession on land transfer charges for land acquired specifically for renewable energy projects. The measures are expected to reduce the financial burden associated with land transactions and make project development more cost-effective.
Land-related expenses can be a significant component of renewable energy projects, particularly during the early stages of development. By reducing these costs, the state hopes to create a more supportive environment for companies planning new solar, wind and other clean-energy projects.
The move could also make it easier for companies to reorganise land holdings and transfer project assets between group entities without adding substantial transaction costs.
For renewable energy developers, lower costs can improve the overall financial viability of projects and provide greater flexibility in planning and investment. It could also encourage more private-sector participation in Maharashtra’s clean-energy sector.
The decision comes as the state continues to focus on expanding renewable power generation and strengthening its clean-energy infrastructure.
Beyond the immediate financial benefit to project developers, the policy could support Maharashtra’s broader energy transition by making it easier and more attractive to develop additional renewable capacity.
The Cabinet’s decision is therefore expected to provide a positive push to the renewable energy sector while supporting the state’s long-term goals of cleaner power, investment and energy security.