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Mumbai property registrations set a new 10-year high record in July
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The stamp duty collection in July has also risen to Rs 512 crore, up 23% from June’s Rs 420 crore collection. The collection has also surpassed the pre-pandemic performance of Rs 452 crore in June 2019.
In May, the momentum in registration of property transactions in the city had started receding.
Property registration in Mumbai, the country’s most expensive real estate market, has set a new 10-year record for the month of July with over 9,000 deals supported by the spill-over effect of the benefit of lower stamp duty that was available until March end.
COVID-19 second wave may pause realty sales momentum for now but demand set to rise indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Maharashtra government to cut construction premiums by 50 per cent till December 31, 2021
ByYogesh NaikYogesh Naik / Updated: Dec 13, 2020, 08:42 IST
There has been a steady increase in registration of flats in Mumbai recently
The Maharashtra government will slash construction premiums and levies by 50 per cent till December 31, 2021. The announcement, expected at the next cabinet meeting, is expected to give a boost to the real estate sector.
The state has already reduced stamp duty from 5 per cent to 2 per cent, which has led to an increase in property sales. Soon after the lockdown started, the government appointed a committee under HDFC chief
Deepak Parekh, which suggested cuts in stamp duty and premiums.