Godrej Prop up over 10%

Almost the entire realty pack is up in the green, at least all those who have development in Maharashtra. Godrej Properties is the top gainer in this pack, up 10% at Rs.182.20, followed by Satra Properties, Zandu Realty, Ansal Hsg, Indiabull Real Estate. Godrej volumes have spurted up almost 13 times.

These stocks are up after the Maharashtra Govt, effective today, hiked ready reckoner residential and commercial property rates.

This is the rate at which stamp duty is collected by the registration department and with rates going up, buyers will now have to pay not just higher stamp duty but along with rates of VAT and service tax will also shoot up. For Mumbai, the Govt for the 737 zones hiked rates by 10%, from 10% to 20% for 711 zones and more than 20% for the remaining 26 zones.