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Tata Housing announces new scheme with zero stamp duty for homebuyers

This is for customers availing the construction-linked payment plan for projects in Maharashtra

Tata Housing has announced a new scheme with zero stamp duty for customers availing a construction-linked payment plan for projects in Maharashtra starting this week.

This follows the Maharashtra government’s decision to reduce stamp duty from 5 percent to 2 percent.

This exclusive zero stamp duty scheme is extended across Tata Housing ready-to-move-in (RTMI) and under-construction projects in Maharashtra under the construction-linked payment plan.

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Projects include Serein (Pokhran Road 2, Thane), Amantra (Kalyan Bhiwandi Corridor), New Haven Boisar II (Boisar (E), Nr. Mumbai), La Montana (Talegaon, Nr. Pune) and Prive (Lonavala). The scheme will be applicable till October 31, 2020.

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This new scheme, coupled with an alternative option of availing Tata Housing’s currently running Move In India campaign, where the customer pays just 15 percent now, moves in and EMI starts after one year, will help ease the buying decision.

The new scheme of zero stamp duty will be presented as an option to be availed if a customer does not want to avail the ongoing scheme. However, both the schemes cannot be clubbed together.

“The state government’s recent decision to reduce the stamp duty from 5 percent to 3 percent from 1 September to 31 December 2020 and by 2 percent from 1 January 2021 to 31 March 2021 is certain to help in uplifting the current market sentiment," said Amit Parsuramka, senior vice-president and chief sales and marketing officer, Tata Realty and Infrastructure.

"We, at Tata Housing, keep the homebuyer at the core of our business and thereby look for opportunities to meet and exceed their expectations in terms of quality and price of their dream home,” he said.

“The policies implemented by the government in addition to the reduced stamp duty are sure to lead to the return of opportunistic investors and NRI’s to consider real estate as an investment,” he said.

Tata Housing recently launched the Move In India scheme that allows customers the flexibility to pay a 15 percent or 20 percent now depending upon the agreement value and move into immediately in case of RTMI properties while the EMI’s start after September 2021.

This scheme is valid for projects across the country with units ranging from Rs 25 lakh to Rs 6 crore.
First Published on Sep 18, 2020 04:48 pm
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