NAREDCO Maharashtra, a prominent real estate developer body, met with Maharashtra's Revenue Minister Chandrashekhar Bawankule to submit a series of proposals aimed at boosting the real estate sector through reduced stamp duties and other incentives.
Real EstateMaharashtraNaredcoStamp DutyIncentivesReal Estate MaharashtraJan 14, 2025
NAREDCO Maharashtra is the Real Estate Development Council of Maharashtra, a prestigious organization representing real estate developers in the state. It plays a crucial role in advocating for the interests of its members and working towards the betterment of the real estate sector.
Reducing stamp duty is important because it makes property purchases more affordable for potential buyers, which can lead to increased demand and a boost in sales. High stamp duties can act as a barrier to entry, especially for first-time homebuyers.
The key proposals include reducing stamp duty rates, introducing incentives for affordable housing, simplifying the regulatory framework, promoting green buildings, and enhancing infrastructure development in new housing projects.
If implemented, these proposals are expected to make property purchases more affordable, leading to increased demand and a boost in sales. The focus on affordable housing and green buildings aligns with the government's broader goals of providing housing for all and promoting sustainable development.
Revenue Minister Chandrashekhar Bawankule acknowledged the proposals and stated that the government is committed to finding solutions to the challenges faced by the real estate sector. He assured the developers that the proposals would be thoroughly reviewed and considered in upcoming policy discussions.
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