Maharashtra Government Mulls Further Concessions for Housing Registrations
Maharashtra's Housing Minister, Mr. Atul Save, proposed potential concessions in registration and stamp duty fees for real estate developers at the third edition of 'The Real Estate Forum 2024' in Mumbai.
Maharashtra GovernmentHousing RegistrationsReal EstateNaredcoJllReal Estate MumbaiSep 01, 2024
The state government had previously implemented a one-percent reduction in registration fees for women purchasing residential properties and suggested that additional measures could be introduced. Mr. Save also urged developers to invest in building 1.25 lakh houses for mill workers in Mumbai, addressing a significant housing demand.
Ms. Valsa Singh Nair, Additional Chief Secretary of the Housing Department, revealed that the government is preparing to launch new policies aimed at revitalizing the housing sector. These include an amnesty scheme for stalled SRA (Slum Rehabilitation Authority) projects and a new PAP (Project Affected Persons) Policy to ensure the timely completion of redevelopment projects.
Frequently Asked Questions
What is the Maharashtra government's proposal for housing registrations?
The Maharashtra government is considering further concessions in registration and stamp duty fees for real estate developers to stimulate housing sales.
What is the current state of the residential market in India?
The Indian residential sector has seen unprecedented expansion since the pandemic, with Mumbai and Pune leading a revival that accounted for nearly 54% of new launches last year.
What is NAREDCO's request to the government?
NAREDCO has requested the allocation of 5,000 slum redevelopment projects to the industry body to enhance Public-Private Partnerships (PPP) and contribute to making Mumbai a slum-free city.
What is the government's plan to address the affordability challenge in the real estate sector?
The government is preparing to launch new policies aimed at revitalizing the housing sector, including an amnesty scheme for stalled SRA (Slum Rehabilitation Authority) projects and a new PAP (Project Affected Persons) Policy.
What is the significance of the report 'Mumbai Residential Market through The Lens of Time'?
The report provides valuable insights into the evolving residential market in Mumbai and is a collaborative effort between NAREDCO and JLL.
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