Sputnik News – Refusal to extend stamp duty cut has affected sales in the Real estate sector. New launches have practically ground to a halt; site visits in person are not possible and not every home seeker wants to order their dream home through virtual means

New launches have practically ground to a halt; site visits in person are not possible and not every home seeker wants to order their dream home through virtual means. In states such as Maharashtra, the cut in stamp duty rates played a major role in boosting sales from September 2020 to January 2021 and refusing to extend the cut has visibly affected sales. Based on media reports and also what members of NAREDO have said, the impact will differ across sub-sectors by anything from 5 percent to 45 percent.

Source Link : https://sputniknews.com/india/202105141082887069-slump-in-indias-housing-sector-caused-by-covid-19-recovery-prolonged-until-2022/