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The rebate on stamp duty announced by the Bengal government, if equally matched by developers by way of discount, could boost the sales of residential properties in Calcutta, experts feel. Bengal has reduced stamp duty by 2 per cent and cut circle rate a government pre-decided rate at which a property must be registered in a given location by 10 per cent in its budget in July. Advertisement When a similar announcement was made in Maharashtra in September, many developers extended a matching rebate to make a transaction ‘free’ of stamp duty payment altogether. The end result was record breaking sales and launches. ....
Boost for realty as West Bengal proposes rebate on stamp duty in budget business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Real estate companies and leather goods manufacturing units are rushing to get their workers vaccinated to restore normality in their sectors. Construction work at most sites had come to a standstill with stricter Covid curbs coming into force across the state on May 16. Work has resumed since June 1 but at a slow pace because of a lack of enough personnel and other reasons. Advertisement The demand for processed leather and finished goods from Europe and the US is increasing but production in the tanneries and leather goods units has been tardy because of shortage of personnel. Business owners said the failure to get workers vaccinated against Covid in large numbers was the principal reason for production not picking up. Another reason is that many workers are still stuck in their hometowns and villages as the curbs are yet to be lifted. ....
Realty firms will vaccinate workers against Covid-19, as asked by the West Bengal government, to start construction activities as it will help revive 3 lakh jobs and the Rs 90,000 crore industry in the state, Real estate sector body CREDAI said on Monday. Construction work came to a grinding halt due to Covid-19 restrictions during which only essentials and continuous process industry were allowed to operate. CREDAI s state unit said that it will inoculate workers. Members of CREDAI are ready to organise vaccination camps for construction workers. We can also bear the cost. For us, safety of all workers and employees is most important, CREDAI West Bengal chairman Sushil Mohta said. ....
3,386,457.0 The second wave of Covid-19 seems to have a minimal impact on the delivery of the residential units, with over 4.22 lakh units scheduled to be completed by 2021-end across the top 7 cities. However, they may face delay of the supply of construction material or labour availability is impacted. Notably, 72% of the total homes delivered by 2021-end are already sold out, with just 28% remaining unsold. NCR would see the maximum completions with a nearly 28% share, followed by MMR with 26% and Pune with approx. 18%. If the fallout of the second COVID-19 wave does not impact construction activity again, the top 7 cities will have approx. 1.18 lakh homes available for purchase by year-end, according to Anarock research, ....