Pune builders welcome Maha govt’s move to slash stamp duty

Confederation of Real Estate Developers’ Association of India’s (CREDAI) Pune chapter president Suhas Merchant said that the builders’ body has welcomed the state government’s decision.
A view of under construction building seen at Kharadi in Pune, India, on Sunday.(HT FILE PHOTO)
A view of under construction building seen at Kharadi in Pune, India, on Sunday.(HT FILE PHOTO)
Updated on Aug 27, 2020 06:11 PM IST
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Hindustan Times, Pune | By, Pune

The Maharashtra government’s decision to slash stamp duty on property registration was welcomed by real estate developers from Pune.

Confederation of Real Estate Developers’ Association of India’s (CREDAI) Pune chapter president Suhas Merchant said that the builders’ body has welcomed the state government’s decision.

“Reduction in stamp duty would not only prove to be beneficial for homebuyers, but will also help the state government in getting revenue from property sale. Now, we hope that the Centre also responds positively to our demand of reducing the interest rate on home loan and bringing the GST to 1% for homes below 1,000 square feet,” said Merchant.

Sujay Kalele, founder, TRU Realty said, “This is a big booster for real estate industry as it lowers the cost of acquisition of property for customers. This coupled with lower interest rates should kick-start the sales cycle for the industry.” Rohit Gera, MD, Gera Builders said, “This will help the struggling real estate sector tremendously.” htc

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