Tata Housing Introduces New Scheme For Zero Stamp Duty Offer
Tata Housing Development Company (THDC), one of the leading real estate development companies in India, announced its plan of offering a new scheme with zero stamp duty for customers availing a construction linked payment plan for projects in Maharashtra starting 12th September. This scheme has been introduced as an effort to boost demand among Indian homebuyers as this comes in addition to the decision by the Maharashtra state government to reduce the stamp duty from 5% to 2%.
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. Projects include Serein (Pokhran Road 2, Thane), Amantra (Kalyan Bhiwandi Corridor), New Haven Boisar II (Boisar (E), Nr. Mumbai), La Montana (Talegaon, Nr. Pune) & Prive (Lonavala). The scheme will be applicable till 31st October 2020.
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% now, moves in and EMI starts after 1 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 would not like to avail the ongoing scheme However, both the schemes cannot be clubbed together.
Speaking on the occasion, Mr. Amit Parsuramka, Senior Vice President & Chief Sales and Marketing Officer, Tata Realty & Infrastructure Limited said, “The state government’s recent decision to reduce the stamp duty from 5% to 3% from 1 September to 31 December 2020 and by 2% from 1 January 2021 to 31 March 2021 is certain to help in uplifting the current market sentiment. 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 further added, “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. Furthermore, our added alternative scheme of availing a flexible payment option, is likely to grow our relationship capital among Tata Housing homebuyers which we continue to base on the Tata Group’s brand ethos of trust.”
Tata Housing’s recently launched Move In India scheme allows customers the flexibility to pay a 15% or 20% now depending upon the agreement value and move into immediately in case of ready- to- move- in properties while the EMI’s start after September 2021. This scheme is valid for projects from across the country are participating ranging from 25 Lakhs to 6 Cr.