01-01-1970 12:00 AM | Source: PR Agency
Perspective on the CREDAI MCHI request for extension of stamp duty cut in Maharashtra by Mr. Krish Raveshia, CEO at Azlo Realty
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Perspective on the CREDAI MCHI request for extension of stamp duty cut in Maharashtra by Mr. Krish Raveshia, CEO at Azlo Realty

The Maharashtra government slashing the stamp duty in August 2020 led to the monthly registrations hitting 10,000/month consistently. The lower stamp duty effectively reduces the cost of acquisition for a real estate unit. Extending the prevailing lower stamp duty for at least a year will improve homebuyer sentiment and increased property registrations. It will entice homebuyers to invest, revenue for the state government and help reduce inventory level for the developers, so a win-win for all stakeholders.

 

Maharashtra government has always set an example for other states to follow, be it setting up MahaRERA or slashing stamp duty, other states have taken cues from us. Providing support to the real estate sector is critical given the sheer size, employment it creates, and its interconnected structure. Over 250 allied industries are dependent on real estate for demand and business.”

 

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