Real estate sector revenue loss at Rs22,000 crore in Q3: Knight Frank

Impacted by demonetisation, property sales in the December quarter plummeted 44%, said Knight Frank


Knight Frank has estimated loss in state governments’ stamp duty collection from property sales in the December quarter at Rs1,200 crore.
Knight Frank has estimated loss in state governments’ stamp duty collection from property sales in the December quarter at Rs1,200 crore.

Kolkata: Real estate consultancy Knight Frank Llp has estimated loss in state governments’ stamp duty collection from property sales in the December quarter at Rs1,200 crore.

In a report, Knight Frank has estimated revenue loss to the real estate sector in the December quarter at Rs22,000 crore based on a study conducted in eight cities: Mumbai, National Capital Region, Bengaluru, Pune, Kolkata, Chennai, Hyderabad and Ahmedabad.

Impacted by demonetisation, property sales in the December quarter plummeted 44%; new launches were down 61% year-on-year.

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