The State Legislative Assembly reduced stamp duty on first-time registrations of apartments priced between Rs 35 to 45 lakhs to 3%, aiming to boost the real estate sector.
Karnataka Government plans to cut guidance values by December, potentially boosting the property market. A lower guidance value is expected to increase property registrations and government revenue.
Tamil Nadu's Minister for Commercial Taxation reviews strategies to boost property registration revenue post-COVID-19, with measures to streamline processes and enhance efficiency.
Greater Noida Authority has decreased real estate transfer fees on resale properties. For residential properties, transfer fees have been reduced to 2.5%.
MahaRERA mandates disclosure of apartment sales and reservations to curb fraudulent practices by developers and protect buyers.
CREDAI-MCHI urges Maharashtra government to reduce stamp duty to 2% in Mumbai to revitalize housing demand amidst the COVID-19 pandemic, citing reduced sales and state revenue.
Gujarat RERA imposed fines on Devnandan Builders, Dwarkadas Pritamani, and Shivalik Infraspace for violating RERA rules. Violations included booking apartments without registration and accepting advance payments beyond the permitted limit.
YEIDA has initiated the registry of residential plots in sectors 20 and 18 after a 12-year delay, with 5,500 registrations completed and an additional 2,500 planned by March 31.
The Madras High Court has reinstated the ban on registration of unapproved plots in Tamil Nadu and seeks details on applications violating the 2016 ban order. A special sitting is planned to address the issue.
The Haryana government has reduced circle rates by 15% in Gurgaon to boost the declining real estate market and stimulate buyer interest.
Pune's Inspector-General of Registration has launched an SMS facility for property document updates, significantly easing the process for citizens and improving access to registration details.
Karnataka Government to issue all-in-one property cards in Bangalore. The initiative aims to streamline property documentation and reduce fraud.
Noida and Greater Noida authorities caution defaulting developers to clear dues or face consequences, impacting flat registrations and home buyers due to financial crunch.
Delhi government restricts property transactions to registered deeds only, banning General Power of Attorney (GPA) sales based on a Supreme Court order.
The Financial Intelligence Unit is urging states to provide monthly data on all property registrations to enhance oversight of real estate transactions and combat illegal funding.
Pune property prices hiked by Rs50-400 per sq ft, but sales dipped despite builder expectations. Registration figures indicate a market slowdown, contrary to builders' claims.