More Than 500 Developers in MMR, Pune, Nashik Offer Free Stamp Duty To Boost Property Sales

Real estate sales in India have been sagging across multiple locations. Even in cities like Mumbai, Pune, Chennai, Delhi, Bangalore, etc. most of the new and under construction projects have been facing unprecedented slow down in sales.

To boost real estate sales and increase bookings in under construction projects, there is a waiver on stamp duty announced by real estate developers. This step has been decided along with the Western Region Chapter of Naredco which happens to one of the biggest real estate associations in India.

The scheme of waiving off stamp duty charges would be available till October 31, 2020 for all home purchasers. This particular drive covers more than one thousand real estate projects in Mumbai Metropolitan Region, Pune and Nashik and involves more than five hundred big and small real estate players.

This is a first joint initiative undertaken by such a huge number of property developers in Maharashtra state as the prices and the sales of homes have nosedived and the demand simply refuses to show up. This particular zero stamp duty drive will involve the stamp duty to be paid by the property developers.