Breaking News! The Maharashtra Government has just given all home buyers a HUGE discount for a SHORT PERIOD OF TIME. The Stamp Duty all home buyers must pay to register their homes has been REDUCED BY 3% FOR ONLY 4 MORE MONTHS.
The Stamp Duty Rate was 6% earlier this year. Then the government reduced it to 5%. NOW, it has been reduced even further by an additional 3% and now the STAMP DUTY IS ONLY 2%.
BUT… this reduction is short-term. The rate will go back up next year.
Take advantage of this limited time reduction in Stamp Duty Rates and save 3% on your purchase.
On a typical 50 Lakh home, that is a savings of approximately 1.5 Lakhs!
Now is the time to make your dream come true by purchasing your dream home. Yes, you heard that right.
So what is Stamp Duty? It is a type of property tax paid by home buyers while purchasing any property. The stamp duty and registration fees are levied upon all types of properties including freehold or leasehold, both agricultural and non-agricultural land, independent houses or flats, and residential flats or commercial properties. The Maharashtra Stamp Duty Act, 1958 applies to the entire State of Maharashtra.
A reduction in Stamp Duty following the lockdown will encourage homebuyers to purchase properties during the pandemic. As a result, the reduction in the stamp duty will lead to an increased buying activity which will in turn lead to a better housing market and help prices rise. This is another reason it is important to take advantage of this limited time discount right now. .
What are you waiting for? Grab the opportunity to buy your own home in Mumbai. VKLAL VISHNU PHASE I, a project by V. K. Lalco Group offers 1 BHK starting at just 51 Lakhs. Contact our Sales Team to know more.