Maharashtra Eyes Stamp Duty Concessions to Boost Real Estate

The Maharashtra government is considering the real estate industry's request for further stamp duty concessions to boost property sales. Housing Minister Atul Save and other officials addressed the issue at a Naredco-Maharashtra event, highlighting the state's ongoing initiatives to support affordable housing and redevelopment projects.

The Maharashtra government is evaluating the real estate industry's request for additional concessions in stamp duty for property registrations. Atul Save, Minister of Housing, announced the plan at a Naredco-Maharashtra event, indicating a willingness to extend further incentives.

Save emphasized the state's commitment to affordable housing and highlighted prior initiatives, such as the one percent reduction in registration fees for women purchasing homes. The minister also urged developers to invest in constructing 1.25 lakh houses for mill workers in Mumbai.

Valsa Singh Nair, Additional Chief Secretary of the Housing Department, revealed upcoming policy measures to expedite slum rehabilitation projects. Naredco officials praised the market's post-pandemic growth, attributing it to economic development, rising incomes, and supportive government policies.

(With inputs from agencies.)