The Maharashtra government, on Wednesday, slashed premiums and levies charged on construction by 50 per cent till December 31 2021, an initiative expected to boost the real estate sector in the state and city. Real estate developers feel that the state government’s decision will boost the real estate industry which has been affected by months of lockdown and subsequent decline during the last one year. Omprakash Deshmukh, Inspector General of Stamps and Registration, stated that it would give a strong impetus to the sector. Deshmukh said, “This decision by the state government will give a major boost to the real estate sector. It is a relief to customers as one of the GR clause states that builder will have to pay the entire stamp duty. This will positively impact the market and buyers will increase.” Suhas Merchant, president, Credai Pune termed the decision as a welcome step. Merchant said, “It can provide great relief to cash-stressed real estate projects. In the past two years not many projects were launched due to shortage of funds. Though we need to study the decision in detail, I definitely feel that more projects will be launched now.” Rohit Gera Managing,… Read full this story
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