The Maharashtra government has announced a reduction in stamp duty rates in a bid to revamp the crawling real estate market. The revised stamp duty rate has been lowered to 3% from the previous 5% for the period between September 1st to December 31st. It will be further reduced to 2% for the period between January 1st to March 31st, 2021.
This decision is a welcome signal for all the homebuyers and investors looking forward to buying a new home. It’s the best time to do so and enjoy big savings.
According to India Ratings and Research, the volume and price growth of the real estate industry is closely linked to GDP growth.
The connection between real estate and GDP comes with long term accumulation of income wealth to invest in real estate. Hence, economic sustenance is of utmost significance to maintain a steady GDP rate and sustain real estate growth.
The Maharashtra government’s decision to reduce the stamp duty from 5% to 2% was the much-needed thrust for the real estate developers of the Mumbai Metropolitan Region (MMR).
The stamp duty reduced is likely to induce an upswing in first time home buyers, fence-sitters as well as resale flat buyers looking for real estate investments.
The move will stimulate the property demand in Pune and MMR, where registration rates had plummeted to 35 % and 31%, respectively. While the state government has done its part, it’s the Centre’s turn to increase interest exemption limits for home buyers. This decision might lead to a spurt in real estate purchases in both Mumbai and Pune.
So, if you are looking for a relaxing abode away from the hustle and bustle of Mumbai city, then step into Puneville, a luxurious residential venture created by Pharande spaces.
Spread across an area of 28 acres, Puneville is a premium cluster of luxury flats in Pune. Soaring 75 meters into the sky, these high-rise buildings are split into 16 towers of 22 stories, each with all the modern amenities. A pioneer among the new residential projects in Pune, 2 BHK flats in Puneville start at an attractive price of 59 lacs.
Designed by the internationally renowned architect Aedas, Puneville is an architectural paradise for urban dwellers. It features all the upscale amenities like:
And not to miss the stunning 22 feet skywalk that connects all the towers to the common amenities.
The community instantly gives you the vibes of an upscale residential community, with everything prim and proper in compliance with modern living standards.
One of the important benefits of living here is the prime location conveniently linked to the Pune-Mumbai expressway and NH-4.
Also, its proximity to the industrial belts of Pimpri-Chinchwad, Aditya Birla Hospital, Indira Group of Institutes, and Hinjawadi IT hub makes it a place worth living.
Come to Puneville and ride the wave of modern living!