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Stamp duty cut fails to cheer Bengaluru realty firms - The Hindu BusinessLine


Stamp duty cut fails to cheer Bengaluru realty firms
March 08, 2021
Reduction will benefit only buyers up to ₹45 lakh
Share prices of Bengalaru-based realty firms witnessed a sudden spurt on Monday around noon as Karnataka government cut stamp duty. But the stocks could not sustain the gains and ended in the red, as analysts said the move will not have much impact.
The stock price of Sobha, which jumped to a high of ₹481.55, closed at ₹460.20, down 0.23 per cent against the previous day s close; Prestige Estates Projects touched a high of ₹304 but closed at ₹293.35, almost at day s low level of ₹292.55; and Brigade Enterprises surged to a high of ₹296.35 but closed 0.37 per cent lower at ₹285. ....

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Why states must follow in Maharashtra's footsteps to revive India's housing market


Why states must follow in Maharashtra s footsteps to revive India s housing market
A simple act like reducing stand duty could be a strong enabler for home buyers returning to the market and keeping the cash inflows of the real estate sector intact
Samir Saran | January 25, 2021 | Updated 10:00 IST
The real estate sector makes up for 8% of India s GDP. Reviving it would help lift overall economic growth, employment, and 250 plus ancillary industries
India s housing market has been sluggish since 2015. Prices have been under pressure and the current ready and under construction housing inventory adds up to more than 8 lakh units across India s top 44 cities, according to Propequity data. ....

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Luxury Properties Priced Above Rs 7 Crore Raked In The Moolah In Mumbai


Luxury properties priced above Rs 7 crore raked in the moolah in Mumbai
Some real estate brands in Mumbai witnessed luxury home sales worth over Rs 500 crore on the back of stamp duty cut and festive offers.
Luxury and branded home segment benefited the most as a result of reduction in stamp duty charges and low interest rates in Mumbai. While mid-income housing projects did offload considerable inventory, luxury housing projects raked in the moolah, says a new report by CRE Matrix, a real estate intelligence firm, and IGR Maharashtra.
According to the analysis, the top selling projects in the calendar year 2020 in Mumbai basis the value of the units sold included Indiabulls Real Estate for the project Blu that sold units worth Rs 598.8 crore; K Raheja’s Artesia that sold units worth Rs 591.3 crore; Avighna’s One Avighna Park that sold units worth Rs 386.2 crore; Runwal’s The Residence that sold units worth Rs 325.5 crore; and Oberoi Realty’s Three Sixty West ....

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