To promote affordable housing, stamp duty on new flats or apartments costing less than Rs 20 lakh would be reduced to 2 per cent from 5 per cent from April 1, said state chief minister B.S. Yediyurappa on Thursday.
As builders seek to reduce apartment sizes to boost affordability, the average area of residential flats has shrunk 27 per cent over the past five years in seven major cities, but dimensions in the NCR region have fallen merely six per cent, according to Anarock.
The iconic Trump Tower comprising 140 ultra-luxury apartments has been launched in Kolkata and its Indian developers are expecting to garner around Rs 700 crore in sales from this project.
An Indian born and a mechanic-turned-businessman George V Nereaparambil owns 22 apartments in the world's tallest building Burj Khalifa, said a media report on Sunday. Nereaparambil says he is not stopping at 22 and will