Second wave of COVID-19, Stamp Duty Impact Residential Sales Rollback in Mumbai: Report

The registration of residential properties in the country’s financial capital, Mumbai, has fallen by 42 percent over the previous month due to the second wave of COVID-19 and stamp duty period ending last month. According to leading property advisor Knight Frank India, Mumbai registered an increase of 10,000 residential property registrations in April 2021, however, only seven per cent of the registrations were from new registration sales. The remainder was transacted between December 2020 – March 2021, for which the applicable stamp duty was paid during the low rate window period.



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