Maharashtra property market continues growth in sales

02 Dec 2020 Editorial Team

The rush to avail the advantage of the stamp duty cut announced by the Maharashtra government continues to lead to a sharp rise in property transactions and sales. Two months after the state government slashed the stamp duty on property transactions, a much-needed boost in sales has been observed.

The state’s revenue minister Balasaheb Thorat said that in the period between September 1 and November 25 there were a total of 722,348 transactions registered across the state, with nearly 65% of these being sales transactions. For the same period last year, the number of transactions registered was 519, 373. He also said that cutting stamp duty was the only option left to revive the real estate market of the state. The recorded transactions this year were 203,065 more or 39% more than the registrations during the period last year.

The Maharashtra government has cut the stamp duty on all sale transactions that are completed and recorded between September 1 and December 31 this year, by 3% and by 2% for those registered between 1 January 2021, and 31 March 2021. This was done to revive the economy.

In Mumbai, this has brought down the stamp duty payable on a sale transaction from five% to two%, while in some other parts of the state it has fallen from 6% to 3%. Between September 1 and November 25 this year, the state netted a total of Rs 5,113 crore through stamp and registration levies. A higher stamp duty rate implies that the corresponding collection last year was Rs 6,543 crore.

Construction activity had been gradually resuming operation in the state from June onwards, after two months of complete shutdown due to the lockdown. In mid-July, the residential purchase segment started witnessing some movement. Thorat added that with this, the buyers were benefited and in many cases, the builders themselves paid the remaining 2%.

Source: Indian Express

Technology

03 Aug 2026

Tekla software supports Maldives bridge construction

Trimble has highlighted the use of its Tekla Structures software by Afcons Infrastructure in the construction of the Greater Malé Connectivity Project in the Maldives, one of the region's largest marine infrastructure developments.The 6.74-km bridge and causeway network connects Malé, Villingili, Gulhifalhu and Thilafushi and is India's largest infrastructure project in the Maldives. The project includes what the companies describe as the world's tallest precast navigation span segment, measuring 8.23 m in depth, 25.73 m in width and weighing about 216 metric tonnes.According to Trimble, Tek..

BPTP Appoints Sanjay Sharma as Chief Operating Officer

BPTP Limited has appointed Sanjay Sharma as Chief Operating Officer to lead its Project Development function across residential, commercial and township projects.In his new role, Sharma will oversee end-to-end project delivery, including contracts and procurement, planning, safety, quality, cost management and schedule control.He brings more than three decades of experience in real estate development and large-scale project execution. His experience spans residential, commercial and township developments, with a focus on delivering complex projects within quality and timeline requirements.Befo..

Vedanta Aluminium Q1 PAT Surges 205% to Rs 6,597 Crore

Vedanta Aluminium Metal Limited reported a 205 per cent year-on-year increase in profit after tax to Rs 6,597 crore for the quarter ended June 2026, marking its first quarterly results as an independent entity.The company’s board approved an interim dividend of Rs 8 per equity share, involving a cumulative payout of more than Rs 3,000 crore.Revenue rose by 45 per cent year-on-year and 13 per cent quarter-on-quarter to a record Rs 21,105 crore, supported by higher volumes, improved realisations and marketing contributions.EBITDA increased by 134 per cent year-on-year and 24 per cent sequentia..