Current stamp duty at 6% will come down to 5% in Mumbai, Pune and Nagpur.
In its first year, GST has helped organise several unorganised players and in many cases revolutsonarised entire industries.
The government’s approval on the long-pending Mumbai DP 2034 is a welcome move. The DP is likely to spur real estate activity in the city and also pave the way for the development of much-needed affordable houses in Maximum City.
Since the Prime Minister’s announcement of the Housing for All by 2022 initiative, affordable housing seems to have become the buzzword of the real estate industry.