Maharashtra govt's stamp duty cut to do little in boosting demand: Ind-Ra

It also noted that the two key residential real estate markets of Maharashtra Mumbai and Pune may react differently to this measure, given the structural difference between these two markets

The Maharashtra government's decision to slash the stamp duty rates for a limited period is unlikely to revive the sluggish real estate sector, according to India Ratings.

The state government on Wednesday announced to cut stamp duty to 2 per cent from the current 5 per cent for three months from September to December 2020 and thereafter to 3 per cent between January 1 and March 31, 2021.

"The sector has been facing a slowdown for the past few years which has been exacerbated by the Covid-19-led nationwide lockdown. The proposed stamp duty reduction would do little to boost demand