47,000 properties sold within eight months; Mission begin again: Boost to construction industry, benefit of govt concession

Aurangabad, Jan 9: Mission Begin Again was announced by the State Government and construction industry received a boost. People understood importance of own house during lockdown and 47,000 properties were sold in the last eight months. Construction industry was in recession since denomination. People got concession under the Pradhan Mantri Awas Yojana to purchase first house but there was not expected growth in this industry. Lockdown started in March 2020 due to corona epidemic and labourers from other states went back to their states. All transactions stopped and construction industry totally collapsed. The Mission Begin Again started in May. People realised the importance of own house during corona pandemic. Those living in rented houses purchased own houses. A total of 1222 property registries were made in May 2020 alone. Houses, flats, land, plots are being purchased after corona epidemic, but still there were no expected growth. Government offered 3% concession in stamp duty for customers who purchased own house during September to December. This decision really boosted the construction industry. A total of 31,811 properties were sold within the period of four months and in previous four months 15,460 properties were sold. A total of 47,331 properties were sold during the last eight months (from May to December 2020) and more than Rs 200 crore revenue was collected for the government treasury.

Construction industry number one again

“People understood the importance of own house and government also motivated people to purchase house by offering 3% stamp duty giving a boost to construction industry. Last four months of 2020 were very good for construction industry and recession in the sector has disappeared.”

- Sunil Bedmutha, Secretary, CREDAI, Aurangabad

Record revenue of Rs 72 crore

December 2020 was the last month for 3% stamp duty discount facility. A total of 11,203 properties were sold in this month. The government netted Rs 72.77 crore revenue.