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Mumbai: BMC okays 50% premium payment discount for realty sector


Mumbai: BMC okays 50% premium payment discount for realty sector
Ruling Sena along with Cong, NCP and SP support move while BJP opposes it
The Brihanmumbai Municipal Corporation (BMC) Standing Committee (SC) on Friday cleared a special proposal of granting a 50 per cent discount in premium payments to real estate firms for one year.
In order to revive the real estate sector, the Deepak Parekh Committee last year had proposed a 50 per cent cut in all the premiums levied on the ongoing and new construction projects till December 31.
In January this year, the state government had cleared the proposal in the legislative assembly, directing the municipal bodies of the state to take a call on the implementation. Due to which, the proposal was tabled for final approval in the SC on Friday. ....

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Realty stocks spurt after Maharashtra reduces levies by 50%


Shares of four Maharashtra-focused real estate developers rose up to 3% after the Maharashtra government cleared a proposal to cut levies on real estate by 50% until December 2021.
According to the media reports, the Maharashtra government on 6 January 2021 approved the proposal to cut the premium on real estate projects by half till 31 December 2021. Developers availing of the scheme would have to pay full stamp duty and registration charges on behalf of homebuyers, the reports added.
At the cabinet meeting chaired by chief minister Uddhav Thackeray, it was reportedly decided that the urban development department will give premium concession to construction projects. Projects will have to pay full stamp duty to customers, media reports said. ....

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approves 50% reduction in realty development premiums Is Maharashtra Government

approves 50% reduction in realty development premiums Is Maharashtra Government
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Maharashtra Cabinet Clears Proposal To Cut Govt Levies On Real Estate By 50% Until Dec 31, 2021


Maharashtra cabinet clears proposal to cut govt levies on real estate by 50% until Dec 31, 2021
Property prices expected to drop sharply in Mumbai as real estate sector applauds government move.
Runners compete along the Bandra-Worli sea link over the Arabian Sea during the Mumbai Marathon in Mumbai, India, Sunday, Jan. 19, 2020. Thousands of the city s residents alongside athletes took part in the marathon. (Image: AP)
After reducing stamp duties in the state to boost residential sales, the Maharashtra government on January 6 approved the proposal to cut the premium on real estate projects by half till December 31, 2021. Developers availing of the scheme would have to pay full stamp duty and registration charges on behalf of homebuyers. ....

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