NEW DELHI, Jan. 15 -- In yet another attempt to boost real estate demand, the Maharashtra government has halved premiums for the sector. This will be applicable to ongoing and new real estate developments till 31 December 2021. This is also in addition to stamp duty cuts applicable in the state until March 2021.
Premium refers to the number of charges that are levied by the state with respect to approvals for initiating, progressing and completing an area in a project. These include premium paid for floor space index, construction of lifts and lobbies, among others.
Following this, shares of Mumbai-focused realty companies such as Oberoi Realty Ltd, Godrej Properties Ltd and Kolte-Patil Devel- opers Ltd touched new 52-week highs. Analysts...