Cap on real estate premium incentive till next year-end
Real estate sales rise 20%
Realty transactions Sep-Nov 39% over the same period last year
Zero-stamp duty until 31st December on its members project in Maharashtra
Mumbai leads the way in residential realty recovery as incentive pays off
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