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Thursday, 27 Aug 2020
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Ram Naik, Executive Director, The Guardians Real Estate Advisory on Maharashtra stamp duty reduction

Construction Activity
 
“The steep reduction in stamp duty of three percent and two percent till December 2020 & March 2021 respectively, will lead to an unprecedented surge in demand for the real estate sector. This move will benefit ready-to-move-in apartments the most as OC ready projects do not attract GST and the reduction in Stamp Duty will now bring down the transaction cost for such apartments to a very negligible percentage. We had been demanding a reduction in the transaction cost since quite sometime and today, we wholeheartedly welcome it. The timing of this move could not be better as it comes at the back of a substantial reduction in the repo rates. The reduced borrowing cost, negligible transaction cost and developers willing to offer lucrative prices, creates a great opportunity for serious consumers to make a purchase.”

 

 
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