Comment by Mr. Rajan Bandelkar, President, NAREDCO West & Convener, on Maharashtra Government’s decision to temporarily cut stamp duty on flats. – Adarsh Maharashtra

President, NAREDCO West & Convener,

”In a bid to resurrect from a continuous decline in the housing sales and revive the demand amid the worst hit Covid-19 pandemic, the Maharashtra Government’s great decision to temporarily cut stamp duty on flats from 5% to 2% till December 31, 2020 and 3% following that till March 31, 2020 is a welcome decision favouring the homebuyers. My advice to all the homebuyers is they should not wait any longer to buy their dream home. It is a convenient time considering that stamp duty has been reduced, also, property prices and bank loan rates are at a low. Therefore, it is a win-win situation for both developers and homebuyers.”

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