According to Article 32 in Schedule I of the Maharashtra Stamp Act, the documents of an exchange deed are stamped similarly to that of a sale deed. However, the stamp duty is levied as per the property that has a higher market value NOW THIS DEED WITNESSETH that in pursuance of the aforesaid agreement and consideration of the party of the First Part conveying to the party of the Second Part the First Scheduled property hereunder written and First Party hereby grant and convey by way of exchange unto the party of the Second Part absolutely and

When two persons mutually transfer the ownership of one thing for the ownership of another neither thing nor both things being money only, the transaction is called an “exchange”. A transfer of property in completion of an exchange can be made only in the manner provided for the transfer of such property by sale.]

In a Sale Deed, you are buying a property by paying total consideration in terms of money whereas in an exchange deed, you are exchanging one property for another and the difference if any is paid for the higher-value property