Attention homebuyers! Maharashtra govt cuts stamp duty charges to 2%

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August 27, 2020 5:00 AM

Nayan Shah, president, CREDAI MCHI, said, the reduced stamp duty is bound to encourage first time homebuyers, fence sitters as well as resale flat buyers to buy.”

Given the festive season will be here soon, we expect demand to pick up significantly giving not only home buyers a big respite but also developers who have been suffering amidst low demand and limited cash flow availability,” Shah said.Given the festive season will be here soon, we expect demand to pick up significantly giving not only home buyers a big respite but also developers who have been suffering amidst low demand and limited cash flow availability,” Shah said.

Niranjan Hiranandani, national president, NAREDCO, said the move will certainly stimulate housing demand and help convert inquiries into the sales closures. “If the central government can slash GST rates in the upcoming council meeting, it would act as a shot in the arm,” Hiranandani said.

Nayan Shah, president, CREDAI MCHI, said, the reduced stamp duty is bound to encourage first time homebuyers, fence sitters as well as resale flat buyers to buy.” Given the festive season will be here soon, we expect demand to pick up significantly giving not only home buyers a big respite but also developers who have been suffering amidst low demand and limited cash flow availability,” Shah said.

Ram Naik, ED, The Guardians Real Estate Advisory, said, “This move will benefit ready-to-move-in apartments the most as OC-ready projects do not attract GST and the reduction in stamp duty will now bring down the transaction cost for such apartments to a very negligible percentage”.

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