Tag: Maharashtra Government

Hike in Stamp Duty report in Maharashtra for the Real Estate Sector.

Shares of real estate companies with significant exposure in Mumbai slumped in a weak market today after media reports surfaced that the Maharashtra government proposes to hike stamp duty for properties. Shares of realty players like India Bulls, Oberoi and HDIL today slumped as much as 6 per cent after reports that the state government [...]

Maharashtra stamp-duty hike: What it means for Real Estate Companies.

In a recent development, cash strapped Maharashtra government proposed to hike stamp duty on leave-license to 0.1% on market value or 1% of the average annual rent or deposit paid, whichever is higher, for residential properties. For commercial properties, the duty proposed is 0.4% for lease agreements over 60 months. This is a whopping 160 [...]

SC Order Paves Way For Redevelopment Of Mumbai

South Mumbai, the most expensive property market in the country, may change for ever. A Supreme Court order has paved the way for redevelopment of the entire city, the impact of which would be primarily felt in South Mumbai, dotted with old, crumbling mansions. While the decision would free vertical growth in a city that’s [...]