NEW DELHI, April 2 -- Real estate developers based in Mumbai have seen a historic rise in property registrations in March, thanks to the ongoing concession on stamp duty. Property consultancy firm Knight Frank India's data shows that from 1 March 2021 to 24 March 2021, Mumbai recorded registration of 12,696 properties at a daily rate of 529 units. This is nearly 4.3 times higher than the daily rate of registration recorded at 123 units in March 2020, it said in a press release.
The limited period offer on stamp duty rebate that began on 1 September 2020 expires on 31 March 2020. Considering the response, the clamour for an extension is getting louder.
A real estate body of more than 1,800 member developers, Credai MCHI, has urged the Maha...