As many as 13 thousand 495 houses in Mumbai were sold in March 2024 and the state government got a revenue of INR 1066 crore from stamp duty. Last year in March 2023 as well INR 13k houses were sold. Every year there is a huge increase in home sales in March. That's why there has been some increase in home sales in March compared to January and February. In January, 10,967 houses were sold and the state government got a revenue of INR 760 crore.
In February, 11,836 houses were sold. The state government got a revenue of INR 869 crore from this. March 2024 saw a huge increase in home sales. 13,495 houses in Mumbai were sold in March 2024 and the state government got a revenue of INR 1066 crore from stamp duty.
Compared to the months of January and February of the current year, there has been an increase in house sales in March. However, compared to March 2022 and 2021, the number of home sales in March 2024 is very low. As many as 17,728 houses were sold in March 2021. The state government got a record revenue from it. Whereas in March 2022, 16,726 houses were sold and this earned a revenue of INR 1160 crore.
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Meanwhile, in March 2020, the lowest i.e. 3,798 houses were sold and out of this only INR 304 crores revenue was received. The corona period started in March 2020 and it affected the sale of houses as well as the construction business. But March 2021 and 2022 saw record home sales. In March 2023 and March 2024, the sale of houses could not even cross the mark of 14 thousand.
However, home sales are considered satisfactory. Developers have reiterated their demand for a reduction in stamp duty rates, claiming that the reduction in stamp duty rates will further boost housing sales.
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