Of the total properties registered in April, 83 per cent were residential while 17 per cent were non-residential properties. The growth in revenues was on account of the surge in higher-value property transactions
Maharashtra to reinstate 5% stamp duty on property registrations
The state government had slashed the stamp duty charges to two per cent between August and December last year to boost the real estate market, which was facing a slowdown due to COVID-19 and the subsequent lockdown
PTI | April 1, 2021 | Updated 12:01 IST
The Maharashtra government on Wednesday decided not to extend the two per cent stamp duty waiver on property registrations from April. It said it would reinstate its earlier system of five per cent stamp duty on property registrations from Thursday.
The state government had slashed the stamp duty charges to two per cent between August and December last year to boost the real estate market, which was facing a slowdown due to COVID-19 and the subsequent lockdown. It was made three per cent between January 1 and March 31.
Shares of real estate companies were in focus, surging by up to 7 per cent, on the BSE in the early morning trade on Thursday after the Maharashtra government on Wednesday slashed premiums and levies charged on construction by 50 per cent till December 31 2021. The move is expected to give a boost to the real estate sector in the state. Following the development, shares of Sobha, Indiabulls Real Estate, Sunteck Realty, Oberoi Realty and Godrej Properties rallied between 5 per cent and 7 per cent on the BSE in the intra-day trade. At 09:27 am, the S&P BSE Realty index, the top gainer among sectoral indices, was up 2.8 per cent as compared to a 0.57-per cent rise in the S&P BSE Sensex. The realty index hit 52-week high of 2,607 in the intra-day trade today.