Property News

Property News #3: Zero stamp duty for homebuyers, Mahindra Happinest project, Tata Projects outbid LT for Parliament work

Tata Housing announces new scheme with zero stamp duty for homebuyers

Tata Housing has introduced a new zero-stamp scheme for customer applications beginning this week in the Maharashtra construction-linked payment plan for projects. The new zero stamp duty schemes are offered as an alternative if a customer does not wish to use the scheme. However, it is not possible to club all schemes together. Tata Housing holds the home buyer at the centre of their business and thus aims to meet and surpass consumer demands for quality and the price of a dream home.

Recently, Tata Housing started a Move-In India scheme giving customers the flexibility to pay 15% or 20% now according to the value of the agreement and move to RTMI properties immediately while the EMI will begin after September 2021. “The recent decision of the Maharashtra government to cut its stamp duty from five to three percent from 1 September to 31 December 2020 and 2 percent from 1 January 2021 to 31 March 2021 is likely to raise the existing market’s sentiment.”

Mahindra Happinest project sells over 100 homes online within a week of its launch

In Palghar, the newest district of Maharashtra and an evolving residential destination, Mahindra Happinest launched its second project with an investment of around 100 crores.

On the other hand, it has been seen that within a week of its launch, over 100 Happinest Palghar homes were sold online. Homes are priced Rs. 9.45, including stamp, registration, GST, and maintenance charges for the first year in Happinest Palghar. Customers can benefit from an Early Booking Multiplier Discount Package that provides extra price benefits.

“For the first time in Indian real estate, a personalized, mobile-first technology platform completes the whole sales process without any physical visits or face-to-face meetings. The success of Happinest Palghar demonstrates an increasing end-user demand in the sense of a stable, natural environment for high-quality homes from trusted developers in the planned area. Happiness Palghar is IGBC Green Homes certified. All construction materials for the project will be sourced within a 250 km radius, thus reducing its carbon footprint by around 60 percent.

Moreover, the Maharashtra Real Property Regulatory Authority is responsible for the project. It also fulfills the requirements for applying for the Pradhan Mantri Awas Yojana, which allows eligible customers to use a loan advantage.

Tata Projects outbid L&T for Parliament work

The Department of Central Public Works, the nodal project body, has estimated building cost of Rs. 940 for the construction of new parliament. In time to celebrate 75 years of Indian Independence, the government set the time-limit for the project in March 2022. The project had been proposed by seven firms. Furthermore, in August, the offers were opened and Tata, Shapoorji Pallonji, and L&T were shortlisted. Shapoorji Pallonji was not interested but L&T and Tata Projects participated in the financial bidding process. The Tata group offered to implement the project in Rs 861,9 crore, which was just Rs 31 crore lesser than L&T ‘s Rs 865 crore bid.

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Bengali Property News #3। Tata Housing Scheme। Mahindra low Budget Property। New Parliament Building

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