Over 6,656 houses have been sold out in Mumbai alone so far. This has led to revenue generation of Rs 469.44 crore in the state Exchequer through stamp duty fees. In fact, the sale of these many houses has broken the record of the previous year which was 5,595, according to the records available with the Department of Registration & Stamps Government of Maharashtra.
Interestingly, the number of sold units will increase further till the end of this month.
Similarly, across the state of Maharashtra nearly 78,439 house conveyance of sale was recorded till now making revenue of Rs 1,396.19 crore through stamp duty fees.
In Maharashtra currently 5% stamp duty is charged on purchase of property. While women homebuyers get 4% stamp duty.
Realty experts believe the sale of houses is a promising sign for the industry which has been reeling from the financial stress from past a few years. They believe, government support to industry by offering concession on stamp duty fees now, which was given during the first wave of lockdown will encourage more homebuyers to invest in real estate. Already real estate associations have made this stamp duty reduction demand to the government.