It’s still early days but Maharashtra’s cut in stamp duty from 5 percent to 2 percent seems to have done the trick. While realizations are down, sales and registrations are almost at pre-Covid levels. According to Propstack, a real estate data and analytics platform the average ticket size stood at Rs1.5 crore. The decrease in stamp duty could help developers clear unsold inventory that is already completed. It remains to be seen if the momentum is sustained after 31 March when the duty cuts lapse.
Also read: India Revival Mission: Huge inventories will drag down real estate prices is a myth, says Vikas Oberoi
