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Mumbai home sales surge ahead of stamp duty rise
The Maharashtra government had reduced stamp duty from 5% to 2% for October to December and to 3% for the January-March period. (Photo: Mint)
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BENGALURU: Residential sales in Mumbai, India’s most valuable property market, saw a sharp surge in December ahead of the increase in stamp duty, effective 1 January.
During the month, around 19,220 units were registered till 31 December afternoon, with sales peaking in the last few days that saw 3425 units being registered during 28-30 December, according to data by property consultancy Knight Frank India.
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Buyers include HDFC’s Keki Mistry, actors Hrithik Roshan, Alia Bhatt and Amrita Puri (daughter of HDFC Bank ex-chief Aditya Puri), stockbroker Motilal Oswal, cricketer Shreyas Iyer, Jatia Hotels’ Vinod Kumar Jatia, Modison Metals’ Kumar Jay Modi and Harpreet Singh Minhas of Harman Finochem.
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Prices have eased 10-15% over the last few months, incentivising many fence-sitters to take the plunge. (Representative Image)
Mumbai: Captains of industry, corporate bosses, cricketers and actors are among those setting Mumbai’s luxury real estate abuzz again.
Thanks to the pandemic-led price correction and stamp duty reduction, the last couple of months have seen closure of several big-ticket realty deals.
Updated Dec 28, 2020 | 13:22 IST
Buyers those who bought posh properties recently include HDFC’s Keki Mistry, actors Hrithik Roshan, Alia Bhatt and Amrita Puri, stockbroker Motilal Oswal, cricketer Shreyas Iyer. Representational image
New Delhi: Mumbai s luxury real estate market is abuzz again with top corporate bosses, crickters and actors buying expensive properties over the last couple of months taking advantege of the recent pandemic-led correction in property prices and stamp duty reduction.
Buyers those who bought posh properties recently include HDFC’s Keki Mistry, actors Hrithik Roshan, Alia Bhatt and Amrita Puri (daughter of HDFC Bank exchief Aditya Puri), stockbroker Motilal Oswal, cricketer Shreyas Iyer, Jatia Hotels’ Vinod Kumar Jatia, Modison Metals’ Kumar Jay Modi and Harpreet Singh Minhas of Harman Finochem.
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