In separate letters to chief minister Uddhav Thackeray, deputy chief minister Ajit Pawar who also holds the finance portfolio and to revenue minister Balasaheb Thorat, CREDAI-MCHI, the real estate representative body has asked for reversal of stamp duty to 2% till March 2022.
Deepak Goradia, president, CREDAI-MCHI said real estate sales in the last couple of months have seen a steep downward trend. “Enquiries and sales are down and it is imperative that the government continue the stamp duty rebate. Even state government collections have taken a massive hit,” he said.
Manju Yagnik, senior vice president NAREDCO said both April and May have witnessed moderate sales after the government decided to reinstate 5% stamp duty on property registrations. ” The government must reduce stamp duty to bring back the momentum and help the sector tide over the crisis,” she said.