Real estate business has seen an uptick soon after Maharashtra introduced new stamp duty in the state. A real estate player was able to sell around 375 plus units for Rs 550 crore in a matter of two weeks.
The firm which was able to make this revenue was Wadhwa Group. The developer has launched four new projects of which three projects are residential and 1 project offers boutique commercial spaces.
The Wadhwa Group launched a new tower Orchard at their project TW Gardens in Kandivali; Azure at their project Atmosphere O2 in Mulund; a new project Dukes Horizon alongside a commercial project The Epicentre in Chembur, the company said in its statement.
Navin Makhija, Managing Director, The Wadhwa Group says, “We have seen increased interest from the homebuyers with the site visits at our properties rising 15-20 per cent higher than the pre-Covid levels.” He added that other than credibility of developers, quality of construction and other factors, lower home loan interest rates along with reduced stamp duty has been an added advantage.