Maharashtra authorities on Monday introduced 1% concession on stamp responsibility over the prevailing charges solely to girls. The reduce in stamp responsibility expenses can be supplied if the switch of home property or registration of sale deed is within the identify of a girl, the federal government stated. To enhance the ailing actual property business amid coronavirus pandemic, the Maharashtra authorities in August introduced to chop stamp responsibility on housing models from 5% to 2% till 31 December, 2020. From January 1 to 31 March, 2021, the stamp responsibility expenses have been diminished to three%. Mumbai, the monetary capital of India, noticed big surge in property registration numbers in February, due to stamp responsibility reduce by the Maharashtra authorities. Over 10,000 housing models have been registered in Mumbai in February, the info revealed. In February 2021, properties value ₹11,745 crore have been bought in Mumbai, up by 34% year-on-year, in accordance with knowledge shared by Propstack. The complete worth of properties in September stood at ₹9,025 crore; ₹11, 640 crore in October; ₹14,395 crore in November; ₹34,025 crore in December 2020; ₹10,170 crore in January, Propstack talked about. “The consumers have grabbed the golden opportunity to purchase properties in the last few months as the bank loan interest rates are at an all-time low coupled with great property prices and reduced stamp duty benefits,” stated Ashok Mohanani – President, NAREDCO Maharashtra. Continuing the momentum, “We anticipate robust sales this month too which will be equivalent to December 2020 as the consumers will try to avail of 3% stamp duty benefit before 31 March,” NAREDCO President stated. Subscribe to Mint Newsletters * Enter a legitimate e-mail * Thank you for subscribing to our publication.