The Stamp Duty Registration Hike in Mumbai – Mr. Shishir Baijal, Chairman and Managing Director, Knight Frank India

New Delhi, November 29, 2018: “The Maharashtra government’s decision allowing BMC to increase stamp duty on property by 1% universally to fund infrastructure projects is timed to coincide with the large scale development projects being undertaken in the city. We expect this to impact buyers’ sentiments especially in the affordable homes and mid segment category, since a 1% increase will be seen as a significant outflow, thereby putting many in a wait-and-watch mode. For developers, a forced escalation of total outflow towards home purchase by end-users can mean some more heartburn. This escalation will hamper the purchase decisions of fence sitters who were warming up to the idea of buying a home on the back of stable capital values that have remained unchanged in the past 4- 6 quarters.”

Corporate Comm India(CCI Newswire)