The registration of properties in the Mumbai municipal region has jumped to its highest in a decade for the month of July, mainly because of the “leeway” given by the Maharashtra government.
As many as 9,037 units were registered in the month as of Friday, as against 2,662 registrations in July 2020, a sharp rise of 239 per cent. The number of registrations is also 57 per cent higher compared with the pre-pandemic period of July 2019, property consultant Knight Frank said.
In December last year, the state government granted four months to homebuyers to register their properties after the payment of stamp duty in order to prevent crowding of registration offices. This ensured that those who had purchased houses and paid stamp duty on or before March 31, 2021 had a maximum window of four months till July 31 for registering their properties.
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