On October 15, 2024, the Government of Maharashtra notified the Maharashtra Prevention of Fragmentation and Consolidation of Holdings (Amendment) Ordinance, 2024. This ordinance aims to amend certain provisions of the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act, 1947.
Key Amendments
Substitution of Reference:
- In Section 9, specifically in Sub-section (3), the first proviso has been revised to replace references to the “Maharashtra Prevention of Fragmentation and Consolidation of Holdings (Amendment) Act, 2017” with the “Maharashtra Prevention of Fragmentation and Consolidation of Holdings (Amendment) Ordinance, 2024.”
Adjustment of Market Value Percentage:
- The previous provision allowed for a percentage not exceeding 25% of the market value of land as per the Annual Statement of Rates. This has now been amended to a fixed 5% of the market value.
Effective Date: October 15th 2024
