Impact of allowing Developers to pay stamp duty in instalments for MHADA projects

The declaration of Govt. of allowing developers of MHADA projects to pay the stamp duty in installment is one of the goals which will result into holistic development and generation of approx. 5 to 7 lakh affordable houses in the city of Mumbai.

All the 56 MHADA layouts in the city will be promoted by this encouraging helping hand offered by the State Government. The fundamental benefit of this move will be a direct and straight uplift and enhancement of dilapidated and old structures and availability of modern housing elements to the deserving citizens of our beloved city.

The developers of MHADA projects will be enabled to enhance the overall proposition of cluster housing and will be able to offer a well structured and enhanced cluster development projects with a more holistic and complete life style offering to home buyers. This grand move of the Government will dramatically benefit the citizens within the cluster housing scheme and will result in an economic upliftment of the city.

The facility to pay the stamp duty on MHADA projects in instalments will enable productivity and will expedite innovation in the real estate sector, which is a major employment generator. The installment scheme in paying the stamp duty will also contribute in growth of various other industries, thereby resulting in the holistic development of the city.

CREDAI-MCHI is thankful to the GoM, to support the real estate industry at such a crucial time, when the industry is facing excruciating pressure from constantly rising prices of raw materials and other challenges. Facility to pay stamp duty for MHADA projects will enable developers to optimize financial resources and focus on timely completion of better housing projects for the city.

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