KCR to Save the Real Estate from Notes Ban

Real Estate is going to be the most impacted sector due to Prime Minister Narendra Modi’s Demonetization. The effects are already being felt with Real Estate Transactions going all time low. Financial Experts expect the Demonetization effect to stay on for the next two years to come.

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Telangana government is actively considering a proposal to slash stamp duty by half for registration of residential and commercial properties to revive the real estate sector. The state government is of the opinion that with black money crack down there will be no scope for under-valuation of properties in future to evade stamp duty as is being done now.

So higher stamp duties will affect the Real Estate sector further and so the government is planning to bring them down. With these measures, the state government is hoping that the real boom in Hyderabad, Rangareddy and the other district headquarters will come back.