Mumbai: The sale of houses is witnessing an upward trend despite city receiving incessant rainfall in last few days and the prevailing Covid-19 situation. As per the records of the Department of Registration & Stamps, Government of Maharashtra so far about 6,026 houses have been sold out in July. Interestingly, till July 17 over 4,619 houses were sold. Now in just four days this numbers have increased by 1,000. This has led to the revenue earnings of Rs 33,703 crore.
Similarly, across state over 95,220 houses sale deed registrations have been recorded. This has led to revenue generation of Rs 1134.33 crore as stamp duty fees.
Currently in Maharashtra on property purchase 5 per cent stamp duty is charged. While women homebuyers get a one per cent concession in stamp duty charges as announced by Maharashtra government reportedly.
Meanwhile, the recent report released by Knight Frank India had revealed that, the first half of the fiscal year(H1) 2021 saw a rise of 67 per cent year over over year (YoY) in sales volume. During the early part of this year, sales volumes were greatly influenced by two markets – Mumbai and Pune, that together constituted over 45 per cent of the total sales amongst key markets --Delhi, Kolkata, Hyderabad among others. These two markets were given their orbital velocity by the Maharashtra government’s decision to lower stamp duty rates for a limited period. While residential sales started to show a resurgence, the momentum got impacted by the second wave of the pandemic starting towards the end of March 2021, the report stated.
