Mumbai, Pune have 33,500 ready to move houses, another 55,750 will be ready by March 2021
New Delhi: There are 33,500 ready to move houses in major cities of Maharashtra-Mumbai and Pune. Another 55,750 homes will be completed by march 2021.
The recent decision of the government of Maharashtra to reduce the stamp duty on registration of properties will help the buyers of these properties. About 18,500 homes are ready to move in Mumbai and another 15,000 houses in Pune.
Around 32,850 units will be complted in Mumbai and another 22,900 houses in Pune by March 2021, according to a report by ANAROCK.
There is no GST on ready to move properties and the all time low rates for home loans make these homes a good bet, according to ANAROCK.
In Mumbai, there are 18,500 ready to move properties and about 46 percent are in the affordable segment. This is followed by 18 percent in the mid segment and 18 percent in the price bracket of Rs 80 lakh – Rs 1.5 crore. The remaining are in the luxury segment.
In Pune, there are 15,000 ready to move homes and about 42 percent of them are in affordable segment. This is followed by 36 percent in the mid segment and 20 percent in the price bracket of Rs 80 lakh – Rs 1.5 crore. The remaining three percent are in the luxury segment.
It is reasonable to assume that the government will be able to cover up for revenue lost in lower stamp duty and registration charges by ways of increased sales, which will be highest in the affordable and mid-income segments. The festive season is off to a good start with this latest announcement.