MUMBAI, 27 AUGUST, 2020 (GPN): Mr.  Nayan Shah, President, CREDAI-MCHI, Says-

“Maharashtra Government’s decision to reduce the stamp duty from 5% to 2% till December 31 augurs well for the revival of MMR realty and is a much-needed boost to the ailing sector amid the pandemic. The reduced cost of the stamp duty is bound to encourage first time homebuyers, fence sitters as well as resale flat buyers to invest in real estate. Coupled with the festive season, we expect demand to pick up significantly which will provide a huge respite not only to home buyers but also to developers who have been suffering amid low demand and limited cash flow availability due to Covid – 19. As a leading industry body, CREDAI MCHI whole heartedly welcomes this decision and would like to thank the State Government and the Revenue Minister Mr Balasaheb Thorat for their support and recognition for Real Estate as one of the strongest pillars of the economy.” ENDS