In the month of March, 12,358 houses were sold in Mumbai and from this the state government received a revenue of INR 1,137 crore. Although this is the highest number of home sales in the new year so far, it is lower than the number of home sales in March of 2021 and 2022.
Large number of houses are sold in the months of March and December. Consumers tend to pay stamp duty by signing the document. The rate of Ready Reckoner will increase from April 1 and the stamp duty will increase accordingly. Hence, house sales and stamp duty collections also increase in March. In this background, there was a record house sale in Mumbai in March 2021. As many as 17, 728 houses were sold. In March 2022, 16,726 houses were sold.
The government earned a revenue of INR 1,160 crore from this. This year, 12,358 houses have been sold in March. Home sales have not reached the number of 15 thousand yet. Rising house prices, rise in home loan interest rates may have affected home sales. Also, there is a possibility that the state government employees' strike has also affected the registry.
Also Read: Mumbai: Now Residents Will Be Able To Complain Online Against The Housing Society
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