Over the last six months, the housing market in Mumbai had started showing signs of revival after an 18-month period of sluggishness beginning in the 4th quarter of 2010. The hiked Ready Reckoner rates could dampen that revival.
The proposed revision of the stamp duty in Maharashtra for leave-license would definitely impact the rental market in the residential, commercial and retail asset classes.
Any residential property, even with all legal safeguards are apparently in place, is ultimately built on land. One cannot automatically assume that this land did not have previous owners. While title insurance does not correct any title faults and past claims, it helps cover litigation cost to mitigate further loss in the case of property transactions where the sanctity of the title comes into question
The incidence of failure to register properties is much higher among professional real estate investors, who often buy properties in bulk directly from the developer. Many such investors are unwilling to pay for the registration of such properties. The reasoning is that they will in any case be resold, and that the purchaser will undergo the registration process at that time.