Mumbai: In just fifteen days in the month of November during Diwali, 77,104 houses were sold across the state generating a revenue of Rs 589 crore through stamp duty charges.
According to the records with the Inspector General of Registration and Controller of Stamps, in Mumbai alone 5,389 houses were sold out generating stamp duty revenue of nearly Rs 157 crore. Besides festivals, the relief provided by the Mahavikas Aghadi government by reducing stamp duty by 2 per cent up til December including several developers offering discounts like free stamp duty has led to increase in sale of houses, believe real estate experts.
After lockdown was imposed, the sale of houses was recorded its lowest ever in April – only 778 houses were sold from which state made only Rs 3.11 crore revenue from stamp duty charges. Usually in April, thousands of houses are sold. However, as the sale of houses did not reach even thousand was worrisome for the real estate industry. However, from September-October the market once again bounce back gradually and in October during Dussera, 7,929 houses were sold wherein the state made Rs 232 crore revenue. As compared to October, the first 15 days of November saw a record sale of houses.