New Apartments Sale Are Peaking Up Does It Means That Real Estate Has Come Out From The Shadows Of Pandemic’s Curse?
New home sales have seen a pointy rise in recent months, giving a sigh of relief from the pandemic-led worry across the realty market. New homes sold in Mumbai and therefore the remainder of Maharashtra are 10-30 percent higher in October, compared with January this year. it's believed that supportive measures from a couple of state governments like Karnataka and Maharashtra have led to the phenomenon, consistent with a report by Crisil Research. While Maharashtra had cut stamp tax from 5 per cent to 2 percent up to December 2020 and to three percent for January-March 2021, Karnataka had also slashed it from 5 percent to three percent for homes priced between Rs 21 lakh and Rs 35 lakh The favourable interest rates and a fall in property prices have made the house 35 per cent cheaper in India’s Top-10 cities within the past five years, the report added. Despite a much bigger fall in annual household income as compared to the residential prices, affordability increased in 2020. On ...