Most expensive buy in mumbai
Radhakrishna Damani one of the richest people in the country is once again in the top headlines of the news due to his latest purchase in the real estate sector, the founder of DMART Mr.Damani has no shortage of money and they also look forward to spending it inexpensive way. The Damani brothers Recently made a purchase of Rs 1001 Cr of property in the posh area of Malabar hills of Mumbai, It is one of the most expensive buy in in Mumbai in the last few years.
According to a document filed to the department of registration of Maharashtra & Stamp, Damani has paid 30 crores of stamp duty for 5,752 sq metre property registered on March 31, 2021. As this is one of the most expensive buy in Mumbai the amount of stamp duty paid along with registration is reasonable.
Radhakishan Damani, who also owns a property at Mumbai’s Altamount Road – the Indian version of the Billionaires’ Row in London — purchased the new house from Saurabh Mehta, Varsha Mehta, and Jayesh Shah.
Benefits of Govement Policy
According to local brokers, the registration took place on March 31, the last day of the reduced 3% stamp duty on housing units in Maharashtra. On August 26, 2020, the Maharashtra government had announced a temporary reduction in stamp duty on housing units, from 5% to 2%, until December 31, 2020, to boost the stagnant real estate market, hit doubly hard by COVID-19. The stamp duty from January 1, 2021, until March 31, 2021, was 3%. The Maharashtra government on March 31 said it would not extend the stamp duty waiver on property registrations and kept the Ready Reckoner Rates unchanged for the financial year 2021-22.