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Stamp Duty Registration Hike in Mumbai Shishir Baijal, Chairman and Managing Director, Knight Frank India
Wednesday, November 28, 2018 - 7:06:44 PM - By Shishir Baijal, Chairman and Managing Director, Knight Frank India
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Shishir Baijal, Chairman and Managing Director, Knight Frank India
MUMBAI Quote by Shishir Baijal, Chairman and Managing Director, Knight Frank India on Stamp Duty Registration Hike in Mumbai following the Maharashtra government’s decision allowing BMC to increase stamp duty on property by 1%:

“The Maharashtra government’s decision allowing BMC to increase stamp duty on property by 1% universally to fund infrastructure projects is timed to coincide with the large scale development projects being undertaken in the city.

We expect this to impact buyers’ sentiments especially in the affordable homes and mid segment category, since a 1% increase will be seen as a significant outflow, thereby putting many in a wait-and-watch mode. For developers, a forced escalation of total outflow towards home purchase by end-users can mean some more heartburn.

This escalation will hamper the purchase decisions of fence sitters who were warming up to the idea of buying a home on the back of stable capital values that have remained unchanged in the past 4- 6 quarters.”
Shishir Baijal
Chairman and Managing Director
Knight Frank India
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