Total Revenue Collection from Stamp Duty and Registration Fees from 27 States and One Union Territory (Jammu and Kashmir) India 1.7 lakh crore was recorded for the financial year 2021-22. This has registered a growth of 34 per cent from Rs 1.28 lakh crore in the previous financial year. According to a report by Motilal Oswal Financial Services, the average monthly revenue collection in FY 2012 was Rs 14,262.5 crore as compared to Rs 10,646.2 crore in FY 2011.
Maharashtra collected the highest stamp duty and registration fee of Rs 35,593.7 crore during 2021-22. The state contributed 21 per cent of the total stamp duty and registration fee revenue of the country.
Uttar Pradesh stood second with revenue of Rs 20,048.3 crore from stamp duty and registration fee contributing 12 per cent to the total collection. The state saw a 22 per cent increase in revenue from Rs 16,475.2 crore in FY2011. Tamil Nadu comes third with Rs 14,331 crore, which contributes 8 per cent to the country’s total revenue. The state saw a 23 per cent growth in revenue in FY 2012, from Rs 11,675.1 crore in FY 2011.
Karnataka and Telangana stood fourth and fifth in the stamp duty and registration fee table with revenues of Rs 14,019.7 crore and Rs 12,372.7 crore, respectively.
Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services, said, “There is no doubt that there has been a remarkable revival in the residential real estate sector in FY22. Nevertheless, it is important to note that the average growth in the last two years is 15 per cent. Considering the fact that interest rates have come down, fiscal stimulus has ended, inflation is high and economic uncertainty is also intensifying, the FY22 performance in the residential property market is unlikely to be repeated next year. “
In percentage terms, Telangana saw the highest percentage growth of 136 per cent year-on-year, followed by Jammu and Kashmir at 88 per cent, Sikkim at 78 per cent, Nagaland at 51 per cent, Haryana at 47 per cent and Gujarat. with 41 percent.
Seven states, Telangana, Jammu and Kashmir, Sikkim, Nagaland, Haryana, Gujarat and Maharashtra, have registered more than 40% increase in their revenue collection from stamp duty and registration fee.
Recently, in real estate, a report by real estate consultant Knight Frank India said that property sale registrations in Mumbai grew by 78 per cent during May to 9,523 units, the best in a decade. Is. It contributed over Rs 709 crore to the state’s revenue. Half the registrations were in the price range of Rs 1 crore and above, while apartment sizes between 500-1,000 sq ft were the most preferred among buyers.
“Total 54 per cent registrations were in the price band of Rs 1 crore and above; Whereas in terms of apartment size, houses between 500-1,000 sq ft were the most preferred category of property registered in May 2022,” said Knight Frank India.
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