The period between September and mid-November recorded around 35% increase in property registrations in Maharashtra as compared to the same period last year. This gravity defying performance in the midst of a contraction in overall economic growth holds lessons for all states and the Centre. Prior to this period, the Maharashtra government reduced stamp duty on the purchase and sale of property. The state government deserves credit for initiating a bold measure in the backdrop of a severe resource crunch. This measure synchronised with the monetary stimulus unleashed by RBI and created a favourable environment for real estate transactions.

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