PUNE: This March 31; the announcement of the state Govt to keep unchanged the stamp duty and ready reckoner rates is a welcome move and a big relief for the real estate industry.
Says Ranjit Naiknavare, “Credai Pune-Metro had made various representations, recommendations, and pleas before the state Govt, CM, DCM and top officials at IGR to re-evaluate and rationalize RR and to not increase stamp duty rates.
We thank the government and the authorities for their understanding of our request which is ultimately going to benefit the consumer who is already troubled by the steep hikes in repo rates. While the changes in repo rates have a big, but temporary effect as the home loan rates are floating, the stamp duty and ready reckoner rates have a permanent effect on home buying capacity as stamp duty directly increases the total cost of buying and RR rates impact the input costs also, ultimately making the home price dearer.
Today’s announcement will have a required positive effect on the real estate industry and help it grow, in turn helping in the economy and employment also!
We hope with the support of all stakeholders, Credai Pune metro will continue to voice the industry opinion for the common benefit of all including the home buyers.”
