In Mumbai alone, as many as 10,172 houses have been sold out in February alone. This has led to earnings of Rs 352.39 crore through stamp duty charges as per the data available with the stamp duty and registrations department of Maharashtra government.
Interestingly, in January total 10,412 conveyance sales had been registered and Rs 305.06 crore was made out of it, which is less as compared to the sales of February. The increasing sales in houses are due to the three per cent stamp duty charges offered by Maharashtra government to homebuyers. Besides, several real estate developers are also offering discount or zero stamp duty to homebuyers on booking flat in their projects.
In the state, as many as 1,50,767 conveyances (sales) have been recorded, generating revenue of Rs 1,280.78 crore approximately. In January, the sale deeds recorded were at 1,52,251 and the revenue made out of them was Rs 1,184.24 crore.
Though the conveyance sale deeds recorded are less as compared to January, the revenue earned is more. This is because the stamp duty registration amount varies from market rates of the purchased property. For instance, property rates in city and rural areas differ.
Besides, the Maharashtra government is also providing 50 per cent discount on premium payments to developers, ready to offer free stamp duty to homebuyers in the said realty project. Along with offering discounts to private builders, the said offer is valid on the government-owned real estate projects of MHADA, SRA among others. This will facilitate improvement in the stuck redevelopment projects generating housing stock which can be offered to homebuyers at affordable prices.