Over 80% potential clients to purchase houses if states reduce stamp obligation: Survey

Over 80% potential clients to purchase houses if states reduce stamp obligation: Survey

Over 80 per cent potential homebuyers might think about shopping for a home if stamp obligation is lowered by states, based on a survey by realty portal Magicbricks.

The corporate performed a survey of round 1,500 folks this month.

“An awesome 83 per cent of the respondents really feel {that a} reduce in stamp obligation would immediate them to purchase a home, whereas 17 per cent really feel that it will haven’t any impression on their buying choice,” Magicbricks mentioned in a press release.

Property registration and stamp obligation expenses vary between 5-9 per cent on a median throughout the nation and add considerably to the general price of the property, it mentioned.

Sudhir Pai, CEO, Magicbricks mentioned: Now we have witnessed a 114 per cent rise in housing gross sales in Maharashtra throughout the interval of stamp obligation cuts, between September 2020 and March 2021. However ever because the expiry of the stamp obligation interval, we’re seeing a dip in gross sales.”

“With Work-For-Dwelling rising as the brand new regular, individuals are in search of greater measurement homes with an additional room and therefore the state governments ought to think about providing stamp obligation holidays that might reduce the burden on homebuyers,” he added.

Magicbricks.com is owned by Magicbricks Realty Providers, which is a subsidiary of Instances Web, the digital arm of the Instances of India Group.

(Solely the headline and movie of this report might have been reworked by the Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)

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