Over 6,000 homes sold to date
Over 6,656 homes have been sold in Mumbai so far. This led to the generation of revenue of Rs 469.44 crore in the State Exchequer through stamp duty. In fact, the sale of these many houses broke the previous year’s record of 5,595, according to records available from the Department of Registration and Stamps of the Government of Maharashtra.
Interestingly, the number of units sold will increase further until the end of this month.
Likewise, across the state of Maharashtra, nearly 78,439 house disposals have been recorded so far, generating revenue of Rs 1,396.19 crore through stamp duty.
In Maharashtra, a 5% stamp duty is currently charged on the purchase of a property. While women home buyers receive a stamp duty of 4%.
Real estate experts believe the sale of homes is a promising sign for the industry which has been reeling from financial stress in recent years. They believe government support for the industry by now offering a stamp duty concession, which was granted in the first wave of foreclosures, will encourage more buyers to invest in real estate. The real estate associations have already made this request to the government to reduce stamp duties.
Posted on: Sunday September 26th, 2021 10:21 PM IST