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For the first time in 2.5 years, the state hiked the RRR by an avg 1.74%.
Builders had been asking for a reduction in stamp duty following the lockdown.
The construction industry employs 35 million people, which is more than the population of Australia or Malaysia, and contributes 8 per cent of India’s GDP.
Current stamp duty at 6% will come down to 5% in Mumbai, Pune and Nagpur.
Real estate sector was high on expectations, but not much announced in the Budget
The upcoming Budget has more pressing and urgent issues that cry out for attention – and remedial action
With a target to make India the world’s third largest economy by 2030, the government has its mission set.
The residential real estate market has made a strong comeback in 2018, especially in metros and Tier-I cities. Even corporate leasing has seen a fair share of rise as compared to the previous years.
A-303, Navbharat Estates, Zakaria Bunder Road, Sewri (West), Mumbai - 400 015, Maharashtra, India