Bengal’s realtors have sought a further extension of the benefit of the 2 per cent reduction on stamp duty and 10 per cent relaxation on circle rate till March 31. Introduced during the state budget in July, the relief was offered till October 30, which was extended up to January 31.

“This will provide a much needed fillip to the industry... We hope the state will support us,” said Sushil Mohta, president of Credai (Bengal).

The impact of the stamp duty cut and circle rate relief had been evident in 2021. A report by Knight Frank said that 44,940 units were registered in greater Calcutta compared with 27,328 units in 2020.

The consultant noted that 56 per cent of these units were registered since the introduction of the stamp duty cut in July 2021. In December though, there has been a 10 per cent drop in the number of registration even as they were up 248 per cent month on month.

Mohta argued that buyers could take full benefit as the surge of Omicron and other variants of Covid in Bengal has restricted movement of customers for registration. Moreover, the people of the state generally refrain from executing any auspicious purchase during the Bengali month of 'Poush' which lasts between mid-December and mid-January 15, Mohta said.