India Real Estate Latest Trends | Overview | Growth | Investments

March 18, 2021
Reduction in Stamp Duties Increase Property Registrations in Mumbai

With the arrival of the record low housing loan rates, rebates and several cutbacks on stamp duty charges, the registration of properties in Mumbai has shown an increasing trend. The financial capital of India has seen a stark increase of about 70% in property sales in February 2021. The month saw the growth of the ongoing trend as buyers flocked to complete their transactions.

The Deputy Inspector General of Registration said that there has been a sense of urgency amongst homebuyers as most people are looking to take advantage of the government’s new policy. The government has decided that there won’t be any additional costs on property registered within 4 months from the purchase date. 

This growth in February 2021 was surprising since there was a hike in stamp duty from 2% to 3%. The registrations in January 2021 had surpassed roughly 69% to a staggering 10,412 deals. The Maharashtra Govt. in August last year had announced that the stamp duty on registration of property will now be reduced to 2% for transactions done between September and December 31st, 2020. The rebate in stamp duty has had a significant impact on the increase in the volume of deals finalized but simultaneously reduced the revenue amount from Rs 437 cr to Rs 350 cr.  

Since the announcement of reductions in stamp duty, there has been a sudden jump in transactions made in cities like Pune, Mumbai, and other urban areas of the state. All the 26 offices in the Mumbai region were kept open on all Saturdays by the registrar to control the surge in the number of deals.   

Real Estate Developers Urges Maharashtra State Government On Seeking Review To Ease Lockdown Regulations

Real estate developers based in Maharashtra have urged the state government to reconsider the regulations for the partial lockdown imposed, prohibiting the real estate sector to carry out infrastructural development effectively. As per the recent notification issued in public interests last week on April 4 meant for the imposition of lockdown, the state government announced that construction developments would only be granted for the property projects where the building workers/labourers are

Realty In Mumbai Witnesses Record Registrations In First Quarter Of FY 2021

In March, Quarter 1 of FY 2021-2022, the financial capital, Mumbai recorded a surge by 365% in property registrations with toll standings of 17,681 closed deals, as per the datasheets released from the office of the IG, Registration Office, Maharashtra. In addition, stamp duty collection also witnessed a 174% hike compared to yesteryear to Rs 837 crore in March ending. Financial transactions while registration of property in Mumbai is, the country’s biggest and costliest realty market, whic

5 Trends Decoding Real Estate In India In The Post-Pandemic Era

The real estate sector in India in the Post-Pandemic era is expected to do much better with the investments largely driven into the mid and luxury segment housing sector, including 2/3 BHK flats available at much-lowered prices. Better days are expected in this year 2021 from the perspective of the investment in the real estate sector. Amidst the growing inclination of buyers and investors towards homeownership, It can be certainly said that the demand f