Naredco Maharashtra announces zero-stamp duty till December 31

Naredco Maharashtra has announced zero-stamp duty on housing sales until December 31 this year. Over 1,000 Naredco Maharashtra members have offered their properties for sale under this scheme.

Announcing the decision, Ashok Mohanani, President, Naredco Maharashtra, said: “It’s a win-win for both the homebuyers and the developers, as the zero-stamp duty window will bring more homebuyers of Maharashtra into the buying net. It will not only push the housing sales trajectory; but also send positive signals to the foreign investors to accelerate their investment plans into the sector flushing more liquidity to tighten the supply side.”

Mohanani also announced that the apex body of developers is set to pitch for funding with foreign investors at a three-day virtual ‘Real Estate and Infrastructure Investors’ Summit (REIIS) – 2020’ that will begin on November 25.

The event will be organised jointly by Naredco and the Asia Pacific Real Estate Association, a leading pan-Asian trade association.