The COVID-19 has put the adverse effect not only on the real estate sector but other sectors as well. The blow due to the COVID pandemic is very important and it will take time to come out of the excess. The Maharashtra government has determined to reduce stamp duty on real estate to assist homebuyers to purchase properties during the pandemic.
A huge support to the Real Estate sector
To boost the stagnant real estate market, the Maharashtra government on August 26 decided to temporarily reduce stamp duty on housing units. The judgment was taken at the state cabinet meeting on August 26. It is a big support to real estate sectors to encourage homebuyers to purchase properties during the pandemic. First, it is important to understand the process of RERA Registration

Process of RERA Registration
• Upload the required documents & information to the RERA registration web portal. • Consult our business advisor on how to get the RERA registration number. • Our professional will verify the validity of documents & Information provided. • On Confirmation, make online payment of RERA registration fees. • Our professional will prepare and submit the application with jurisdictional RERA authority.

Benefits for the Real Estate sector
• It will provide buyers with an incentive to buy homes and give them the option to take a decision to purchase. • The decreased cost of the stamp duty is bound to assist first-time homebuyers as well as resale flat buyers to invest in real estate. • It will boost the real estate market in this festive season. • This will also help the government to generate revenue as property registration is expected to increase.

Moreover, the main purpose of the government too encourages homebuyers to purchase properties during the pandemic. Know more about reducing stamp duty on real estate.