Naredco Maharashtra Developers Offer Zero Stamp Duty-Booster

Naredco on September 3 announced a festive bonanza for homebuyers by waiving the stamp duty completely in Maharashtra and also on its online portal HousingforAll.com till October 31 this year.

In a move that could benefit homebuyers, revive 250 industries and save lakhs of jobs in the state, the apex national body of real estate industry has come forward to reciprocate the “bold and customer-friendly” decision of the Maharashtra Government, said a press release issued by Naredco Maharashtra.

The Maharashtra Government had recently announced slashing of stamp duty on the purchase of new houses by 3 per cent from September 1 to December 31 and by 2 per cent from January 1, 2021 to March 31, 2021 to uplift the market sentiment.

In a step forward, members of Naredco Maharashtra have come together to offer various affordable and luxury residential properties in over 1,000 housing projects under this scheme. A majority of developers from Mumbai, MMR, Pune and Nashik have decided to waive the stamp duty and bear the burden themselves.

Rajan Bandelkar, President, Naredco-West, said, “After the Government of Maharashtra’s blockbuster measure to reduce the stamp duty on the property buying, it is another milestone step by Naredco Maharashtra to cheer the homebuyers. This unprecedented decision to charge no stamp duty on housing sales will bring a new wave of home buying in the short–run and change the demand- supply dynamics positively.”

Ashok Mohanani, President-Elect, Naredco-West, said, “Making the already jubilant homebuyers happier, our unanimous decision to waive the stamp duty completely on the sales of residential properties will add to the home buying euphoria and support the Government’s efforts to push housing demand in the state.”