STAMP DUTY CUT IN MAHARASHTRA DRIVES PROPERTY REGISTRATION.
The month of February 2021 witnessed over 10,000 housing units registered in Mumbai almost equivalent to January 2021 on the back of the stamp duty cut by the Maharashtra Government. As per the government data by IGR (Inspector General of Registration) Maharashtra; September saw registration of 5597 properties, October saw 7929 properties being registered, November
The month of February 2021 witnessed over 10,000 housing units registered in Mumbai almost equivalent to January 2021 on the back of the stamp duty cut by the Maharashtra Government. As per the government data by IGR (Inspector General of Registration) Maharashtra; September saw registration of 5597 properties, October saw 7929 properties being registered, November saw 9301 properties, December 19584, January 10412 whereas February sees 10170 properties being registered. The sector is expecting a windfall of registrations in the month of March 2021, in line with the response received in December 2020. The month is expected to end with a registration number in the range of 10000-14500. Y-o-Y it will be an upwards of 100-150% growth, according to Ram Naik, Executive Director, The Guardians Real Estate Advisory.
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