NASHIK: The home sales volume in Nashik registered a good rise this year due to a stamp duty cut by the state government to boost the real estate sector. The stamp duty cut continued to propel home sales in Nashik by 1.5% in 2020 when compared to last year. Due to the lockdown, many families have realised the need to have additional rooms in their housing societies that created an entirely new demand for an upgrade, adding to overall sales.
A total of 40,000 home buyers have taken advantage of the stamp duty cut in the last three months. The real estate sector, like other sectors, was hit by the Covid-19 lockdown. The state government had later announced to reduce stamp duties levied on sales of homes to 2% from September 1 to December 31 and then hike it slightly to 3% from January 1 to March 31, 2021, among relief measures for various sectors.
This cut has led to a rise in home sales in the city. District Collector (stamp) Kailas Davange had decided to open the registrar office on Saturday to avoid inconvenience to home buyers. As pending works got cleared on Sunday, there is low pendency of work. This had helped to make the home registration process much faster, he informed.
Nashik sets up an example in the state
Nashik division has set up an example before the state with the fast home registration process. The state commissioner had then implemented this in the state. This had also helped in increasing the percentage of registrations in the state. There are a total of seven offices in the Nashik city area where the stamp registration process is done.
Their works were planned accordingly. Three offices had continued to function in their normal routine while timings of the other four offices were functioned in the morning and evening to make it easier for traders and service persons to do the registration. This step has helped in rising in stamp duty registration, Davange also informed.
