STAMP DUTY RATES
Bollywood actor Ronit Roy buys sea-view luxury apartment in Mumbai’s Versova
Bollywood actor Ronit Roy and his wife Neelam acquired a 4,259 sq ft sea-view apartment in Versova, Andheri from Macrotech Developers for nearly Rs 19 crore. The June 10 deal includes four exclusive parking slots and a stamp duty of Rs 1.14 crore. The 29-storey project will be completed by December 2026. High net-worth individuals, including Bollywood stars like Amitabh Bachchan, Shahrukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan, and Aishwarya Rai, are investing in real estate.
Bengal government withdraws 2% stamp duty, 10% circle rate relief for real estate sector
The West Bengal government has decided to end temporary relief measures for the real estate sector, including a 2 per cent stamp duty reduction and 10 per cent circle rate slash, effective July 1. Initially introduced in October 2021 to combat COVID-19 economic impacts, the benefits were extended multiple times. Sushil Mohta, of CREDAI West Bengal, expressed gratitude for the measures but urged a reconsideration, emphasizing the sector's significant contributions to the state's economy.
Mumbai property market sets yet another benchmark, records best-ever June; registrations rise 12%
Mumbai, India's largest and priciest property market, has achieved a new milestone by recording its highest-ever property registrations for the month of June. In June, the city saw 11,538 property registrations, marking a 12% increase from the previous year. This led to the state exchequer collecting over Rs 998 crore in stamp duty revenue, reflecting a 16% year-on-year rise
Taking a home loan? 5 ways you can reduce cost of borrowing and save money
The longer the tenure of a loan, the higher the interest burden. Home loan rates will not come down as the RBI has kept policy rates unchanged. If you are planning to buy a house with a loan, ET Wealth suggests some ways to reduce the cost of borrowing.
Should you buy a house now or rent it? Key factors that will help you to decide
While property market dynamics play a big role in effecting this decision, equally important is your personal financial situation and lifestage. There are other factors to consider. If you are thinking of buying a house, here the key things you need to check.
Should you buy a house now before property prices soar or wait for home loan interest rates to drop?
A favourable wealth effect, driven by a sharp rise in the equity markets, is enticing many first-time homebuy ers to take the plunge, while affluent buyers are looking for second homes. If you are a fence-sitter, still unsure about when to buy a house, this market presents a big dilemma. Is it the right time to buy a house?
Mumbai realty market breaks record for 10th month in row
Mumbai, India's commercial capital, has recorded its best performance on record for real estate deals in May, driven by brisk sales and high demand despite increased mortgage rates and rising property prices. The Mumbai property market saw over 11,917 property registrations, up 21.3% from the previous year. The market's sustained confidence in India's economic expansion has resulted in robust business activity in the industry.
Mumbai property market continues record-setting spree with best-ever May
The country’s commercial capital witnessed more than 11,917 property registrations during the month, up 21.3% from a year ago. The performance led to the state exchequer fetching revenue worth over Rs 1,029 crore through stamp duty collection, up 23.5% on-year, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
Indians pay more in down payments and home loan EMIs than Singaporeans! Entrepreneur explains the math
Entrepreneur Akshat Shrivastava compares buying a house in Singapore and India. In Singapore, a 1 million SGD house requires 27% upfront payment with a 4% home loan interest rate. In India, a 2.56 crore house demands 30% upfront payment and 8-9% home loan EMI.
Mumbai property market scales new peak with record April stamp duty collection
The stamp duty collection has recorded 16% on-year increase at Rs 1,047 crore, while the country’s commercial capital has witnessed registrations of over 11,475 property deals during the month, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
Mumbai property market record performance spree continues in March
The country’s commercial capital has witnessed the registration of over 14,145 properties during the month, up 7.5% from a year ago. Revenue collection through stamp duty charges, however, declined 8.1% to Rs 1,125 crore, according to data from the inspector general of registration in Maharashtra.
Upfront cost on property registration goes up in Karnataka
Currently, the stamp duty in Bangalore is 6.6% of the property's market value. The advance stamp duty will be adjusted against this at the time of the registration of the property. For resale, there is no impact as property registration often happens in a month.
Mumbai property market shatters records, at an all-time high in 2023
The maximum city has recorded total registrations of over 1.27 lakh real estate properties in 2023, making it the best year for property sales across primary and secondary market, exceeding last year’s peak by 4%. Total revenue collected through stamp duty rose 22% in 2023 to over Rs 10,850 crores, showed data from the inspector general of registration, Maharashtra.
Hyderabad real estate market achieves record stamp duty revenue despite rising prices
Hyderabad, India's largest property market, has seen a record-setting surge in stamp duty revenue collection in November, with property registrations rising by 25% YoY to over 6,268 deals. The total value of properties registered stood at Rs 3,741 crore, a 29% YoY increase. The Reserve Bank of India's decision to maintain stable interest rates since April 2023 has bolstered homebuyer confidence in Hyderabad, leading to consistent growth in sales.
Hyderabad sets new record for stamp duty mop-up in November
"The Reserve Bank of India's decision to maintain stable interest rates since April 2023 has significantly bolstered homebuyer confidence in Hyderabad, which has led to a consistent growth in sales," said Shishir Baijal, chairman, Knight Frank India.
Mumbai property market’s record-setting spree continues with best August ever
The country’s commercial capital has recorded its best performance in August ever with registration of over 10,716 properties during the month, up 25% from a year ago. Revenue collection through stamp duty charges also rose 24% to over Rs 797 crore, showed data from the inspector general of registration, Maharashtra.
Mumbai property stamp duty July revenue remains steady despite lower registrations
The country’s financial capital witnessed over 10,221 property registrations in the month of July helping generate stamp duty collection worth nearly Rs 831 crore for the state exchequer. In July 2022, the city had seen stamp duty collection of Rs 829 crore on the back of registrations of 11,340, showed data from inspector general of registration, Maharashtra.
Mumbai property market stamp duty collection records best-ever May
Mumbai, the country’s largest and most expensive real estate market, continued its record-setting spree by scaling a new peak in terms of stamp duty collection for the month of May despite higher mortgage rates and property prices.
Best-ever April for Mumbai property stamp duty collection despite lower registrations
The state exchequer's revenue saw a 15% YoY increase to over Rs 845 crore ($113m), although registration was 15% lower at 9,933 deals. South Mumbai showed the highest uptick in sales, and properties under Rs 10m ($134,000) remained the most popular. Apartments measuring 500 sq ft to 1,000 sq ft remained buyers’ preference, accounting for 44% of all registrations.
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