Kindly find below the comment by Mr. Ram Naik – Executive Director, The Guardians Real Estate Advisory on Maharashtra Government’s decision to temporarily cut stamp duty.

Mr. Ram Naik
Executive Director, The Guardians Real Estate Advisory

“The steep reduction in stamp duty of 3% and 2%  till December 2020 & March 2021 respectively, will lead to an unprecedented surge in demand for the real estate sector. 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. We had been demanding a reduction in the transaction cost since quite sometime and today, we wholeheartedly welcome it. The timing of this move could not be better as it comes at the back of a substantial reduction in the repo rates. The reduced borrowing cost, negligible transaction cost and developers willing to offer lucrative prices, creates a great opportunity for serious consumers to make a purchase.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s