Over 2,791 houses have been sold out in Mumbai city in just 12 days of October month. This has led to the revenue generation of Rs 172.76 crore through stamp duty fees as per the data with the Department of Registration & Stamps Government of Maharashtra.
While in October 2020 total 7,928 houses were sold out. The sale of houses was largely affected due to Covid-19 situation followed by lockdowns.
This year however the realty industry expects goods for the industry. Considering the festive season the recorded sale of houses in last 12 days will increase further and will witness a record break in sale by the end of this month, believe the developers. Therefore, several developers have offered discounts to attract home buyers and other incentives. Like for instance, the Poddar Housing Group one of the renowned real estate developer is offering fully furnished homes of well-known brands along with Jio fiber-enabled homes for home automation and amenities.
Rohit Poddar, Managing Director said, "After the pandemic-induced challenges, the upcoming festive season is expected to bring back fervour to the real estate sector. With multiple research reflecting growth in both residential and commercial properties, these developments have influenced the sentiments of the fence-sitters and drove them to sales offices, thus leading to easing of pent up demand creating a supply-side push from reforms and easing of regulations. Backed by a large section of the population taking vaccination and the subsequent unlocking, we can expect the coming festive season to cross the pre-pandemic sales mark as many buyers holding on to their purchases are eyeing the auspicious occasion to make the move. With the deliberated government incentives and developer initiatives, the upcoming months are anticipated to see better-than-ever home sales, more so in the affordable and mid-segment."
Meanwhile, in state over 37,678 houses have been sold out so far and revenue made is amounting to Rs 588.25 crore currently homebuyers have to pay 5 per cent stamp duty. While women homebuyers get 1 percent concession on stamp duty fees.