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Luxury properties priced above Rs 7 crore raked in the moolah in Mumbai Some real estate brands in Mumbai witnessed luxury home sales worth over Rs 500 crore on the back of stamp duty cut and festive offers. Luxury and branded home segment benefited the most as a result of reduction in stamp duty charges and low interest rates in Mumbai. While mid-income housing projects did offload considerable inventory, luxury housing projects raked in the moolah, says a new report by CRE Matrix, a real estate intelligence firm, and IGR Maharashtra. According to the analysis, the top selling projects in the calendar year 2020 in Mumbai basis the value of the units sold included Indiabulls Real Estate for the project Blu that sold units worth Rs 598.8 crore; K Raheja’s Artesia that sold units worth Rs 591.3 crore; Avighna’s One Avighna Park that sold units worth Rs 386.2 crore; Runwal’s The Residence that sold units worth Rs 325.5 crore; and Oberoi Realty’s Three Sixty West� ....
MMR property sales hit it big, highest since 2012 BySatish NandgaonkarSatish Nandgaonkar / Updated: Dec 10, 2020, 06:00 IST PHOTO FOR REPRESENTATIONAL PURPOSE November sales at a record high; year-on-year registrations, revenues shoot up nearly 67%; experts attribute it to reduced stamp duty. Property registrations and revenues in the Mumbai Metropolitan Region (MMR) touched a record high in November 2020. Registrations shot up 67 per cent year-on-year and 17 per cent monthon-month, as per data from the Department of Registration and Stamps analysed in two separate reports by Knight Frank India, and Propstack. The state government had cut stamp duty from 5 per cent to 2 per cent on August 26. The sales had then increased sharply, jumping up 112 per cent from 2,642 units sold in August to 5,597 units in September. In October, the unit sales touched a record high of 7,929, which was even higher than pre-pandemic sales of 6,150 units in January 2020. In ....