Track2Realty: MCHI CREDAI has appealed to the Maharashtra Government to slash the ready reckoner rates that form basis for stamp duty.
The government revises the RR rates effective the New Year Day, MCHI-CREDAI President Paras Gundecha said and appealed to the Chief Minister Prithviraj Chavan to ensure that the home buyers are not unduly burdened with the fresh load of stamp duty.
Recalling that Chavan had promised developers during a joint meeting some time ago that the government will give top priority to ensure affordable and mass housing, Gundecha pointed out that any hike in the duty would dampen the buyer sentiment.
“As it is the RR rates are very high and do not commensurate with the real market scenario,” he said. The real estate market sentiment over all is not very encouraging with the cost of inputs – from funding to materials and labour – increasing by the day. It is therefore imperative for the government to create a congenial atmosphere for encouraging home seekers to buy and developers to do their genuine business.
Real Estate is the largest employer after agriculture and it contributes handsomely to the GDP, he said and pointed out that MCHI-CREDAI has always been advocating the need for reviving the sector to give a much needed boost to the economy.
Gundecha appreciated the Chief Minister’s positive attitude towards the housing industry and expressed the hope that he would do walk-the-talk to give relief to the buyer.
Gundecha said though there have been some sales of flats, a lot more needs to be done to revive the market. Any relief in terms of the stamp duty will go a long way in keeping the cost of housing under some check, he added.
