NASHIK :
In a bid to boost the ailing real estate sector which has been further crippled due to the Covid-19 crisis, the state government has decided to slash stamp duty to give the much-needed imputes to the sector.
The decision will give big relief to the citizens who dream of owning a house. It is bound to encourage first time homebuyers.
The slash in stamp duty will be in two stages. Earlier, the stamp duty was five per cent, but now it will be two per cent till December 31.
Stamp duty from Jan 1, 2021, until March 31, 2021, will be 3 percent.
The number of people booking home is expected to increase by December as the rate cut will benefit home buyer between Rs 1 lakh and Rs 1.50 lakh.
Boost to construction sector This decision of the government must be called as a good decision. The Credai has raised the issue since past one year. It was also discussed with the chief minister and MP Sharad Pawar.The construction sector was hit hard by COVID-19 pandemic. This decision will revive the realty sector.
Ravi Mahajan (president, Credai Nashik Metro)
This will not only give a boost to the construction sector, but also will help gain a momentum to the economy, and banking sector through loan proposals. In addition, the GST, and income tax departments will also benefit. The decision will increase demand and supply.
Anil Parkhe (collector, stamps)
