What’s in the budget for real estate sector?
Although pandemic is still hovering above us, people have gone past its talks and are focusing on their work. Most of the sectors have started opening and are augmenting its moves by contributing immensely to the economy. Even the property sector is not behind. In a bid to revive the real estate sector, the Government of Maharashtra has announced the stamp duty cut of 3% for all the transactions implemented and registered between September 1 to December 31 last year and by 2% on all the transactions carried between January 1 and March 31 in the new year.
Although the aim of the Government was to boost the property segment, it also led to positivity and change of outlook towards property buying. The growing number of property registrations figures were a respite to the post lockdown scenario in the state. According to the data, there was a 30% surge in September, 40% in October and 20% in November which was comparatively high from the last few years. The property registrations growing at a faster rate will also led to the development of housing in cities like Pune, Mumbai, Thane, Nashik and Nagpur.
Although known for oranges, Nagpur has got its new face due to its development in the last few years. Considered as the second capital of Maharashtra, Nagpur has been in the limelight already. However, the real estate development, infrastructure, commercial and retail sectors have also been booming in the city. Nagpur has never shunned away from its identity and has tried to incorporate the best of old world and new developments. Housing in Nagpur has been in able hands with developers like Nani’s Buildcon. Nani’s Buildcon has come up with their several projects in Nagpur and their recent project include Vedant Garnet. If you are looking for investing in Maharashtra, then now is the time!