[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
The real estate market in the country’s financial capital continues to witness sharp growth in
housing sales as reflected in property registrations driven by the combination record-low home
loan rates, discounts and reduction in stamp duty charges.
Property registrations in Mumbai have recorded over 70% on-year rise in February, the sixth
successive month with significant growth in numbers as the rush among homebuyers to
conclude their transactions continued.
At over 10,059 offers, that is the best variety of registrations witnessed within the month of
February since 2012, confirmed the info from the office of the Inspector General of
The sustained growth is being witnessed after the nation’s industrial capital had set a historic
excessive of 19,552 offers in December, up 204% from a yr in the past.
“We have been witnessing the rush among homebuyers across all of our 26 offices for the last
few months and the trend continues even now. To avail the benefit of the government’s
decision and to be able to register the document within next four months without any
additional charges, many homebuyers are keen to pay the stamp duty on executed documents
now,” Shridhar Dube-Patil, deputy inspector basic of registration, Mumbai division, advised
The growth in month-to-month registration numbers in February is recorded even after the
1% rise in stamp responsibility at 3% from January as in opposition to 2% till December
finish. In January too, registrations had risen over 69% to over 10,412 offers.
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