More than 2K houses sold in Mumbai in first week of February

In the first week of February, sales of over two thousand houses were recorded, according to the data available with the state stamp duty registration office. The sale of these many houses has generated revenue of Rs 84.41 crore through stamp duty. While in the entire state of Maharashtra, a total of 38,180 houses were sold which generated revenue of Rs 298.97 crore.

While in January over 9,000 houses sold out in Mumbai alone generating revenue of Rs 263.33 and about 13,000 houses were sold in the entire state during this period earning revenue of Rs 1014.79 crore.

Currently, the state takes three per cent on stamp duty registration. The concession on stamp duty from the previous five per cent is now three which will remain so till March 31. Earlier, the stamp duty charges were two per cent till December 2020. Due to the reduction in stamp duty charges the realty industry has witnessed a surge in the sale of houses.

Reportedly, Mumbai recorded the highest sales of houses in December 2020. About 18,000 conveyance sale was recorded by the state stamp duty and registration department. The stellar sales raked in Rs 648.32 crore in revenue for the state exchequer through stamp duty.

Besides, the Mahavikas Aghadi government had declared 50 percent reduction in premium payments. Builders who wish to avail this concession are supposed to pay stamp duty charges of homebuyers.

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Free Press Journal