India, Oct. 20 -- The Maharashtra government has directed housing societies that have obtained deemed conveyance to pay a one-time non-agricultural (NA) conversion premium in lieu of the annual NA tax by December 31, 2026. Failure to pay the premium within the stipulated period will attract penalties and interest. The directive applies to housing societies across the state.

A circular to this effect was issued by the state revenue department on October 15.

The move is part of the state government's revised framework for housing societies whose land use was changed from agricultural to non-agricultural at the time of granting development permission or approving building plans. Most housing societies in urban areas, including those situat...