Sales to sustain despite stamp duty reversal, say Mumbai realtors

Growth in the value of properties registered was 1.4 times the number between September 2019 and March last year.

Property developers in Mumbai, one of the largest property markets in the country, hit the jackpot in the past seven months with the cut in stamp duty on registration and they say sales will sustain despite the state government not extending the cut and banks ending special home loan rates.
 
To boost the real estate market, the Maharashtra government in August last year reduced stamp duty to 2 per cent from 5 per cent for property transactions till December 31, 2020, and to 3 per cent till March 31, 2021. The normal rate of 5 per cent was restored