It’s no new news that COVID-19 has hampered all types of Industry worldwide. But the real estate industry has managed to sustain itself because of pre-booked properties and sellers continued efforts to serve their customers. During the lockdown, the property which was remained unsold, after lockdown the bookings of properties got faster because builders had already reduced their price, and 3% relaxation on stamp duty by the Maharashtra Government made it more compelling for buyers to go after buying and investing in properties.
In the year 2020, December is going to be a period where builders and developers are going to get returns for their investments and patience. The buyers now are aware of current situations and are actively searching for properties in Maharashtra even abroad investors are showing interest in properties of Maharashtra.
This is a golden period for buyers and as well as for builders & developers, where buyers can buy flats and can take the benefits of 3% relaxation on Stamp Duty and on the same page builders have the chance to start their marketing aggressively and reach to the maximum potential buyers.
Eventually, after December 2020 when the relaxation on stamp duty by Maharashtra Government on properties will get over, and then buyers will be least interested in buying new homes or to make new big investments in properties. So the numbers of interested buyers currently in the market compared to the numbers of interested buyers after December will decrease majorly and you might not be able to get the actual crowd of buyers you are looking for.
On 31st December 2020, the relaxation of stamp duty is going to end and in the coming year, 2021 probability of a reduction in stamp duty is very less as the government of Maharashtra has already reduced it due to lockdown. Next year you will observe the least number of people taking interest in buying homes so this is the one-time offer where buyers and developers can take advantage and be in a win-win situation.
