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Revenue From Stamp Duty, Registration Fee In 8 Months Rises To Over 1 Lakh Crore: Report


Stamp duty, registration fee collection jumped to over 1 lakh crore in 8 months: Report

Mumbai:

Led by Maharashtra, the accumulated revenue collection from stamp duty and registration fees of all states jumped to Rs 1,00,100 crore for the first eight months of the current fiscal year, which for the previous fiscal was Rs 1,27,700 crore, according to a report.

Analysis of data in terms of states by Motilal Oswal Financial Services showed that the average monthly collection by 28 states amounted to Rs 12,500 crore in the April-November 2021 reporting period, which is slightly lower than Rs 12,800 crore on the day before the pandemic. .

But, the monthly average was higher than the Rs 10,600 crore recorded in FY21.

The report does not offer comparative numbers for the same eight -month period of FY21 when the country was hit by the epidemic.

Thanks to Mumbai and Pune, Maharashtra recorded the highest collection of Rs 17,097 crore, accounting for 17.1 per cent of the total collection during the period, followed by Uttar Pradesh, Tamil Nadu and Karnataka with Rs 12,800 crore, Rs 8,700 crore and Rs 8,400 crore, respectively , according to the analysis.

In FY21, Maharashtra’s collection amounted to Rs 25,427 crore or 19.9 per cent of the national total, followed by Uttar Pradesh at Rs 16,475 crore or 12.9 per cent of the total, Tamil Nadu Rs 11,675 crore or 9.1 per cent, Karnataka 1 or 576 crore. per cent, Telangana Rs 5,243 crore or 4.1 per cent, Gujarat 7,390 crore or 5.8 per cent, Haryana 5,157 or 4 per cent.

Madhya Pradesh collected 6,760 crore or 5.3 per cent of the national mop-up in FY21, Bengal Rs 5,527.6 crore or 4.3 per cent, Andhra Pradesh at 5,603.3 crore or 4.4 per cent, Rajasthan Rs 5,297.3 crore, Bihar 31 crore, Rajasthan Rs 5,297.31. or 3.3 per cent, and Kerala Rs 3,489.6 crore or 2.7 per cent.

Other states have collections below Rs 3,000 crore or less than 3 per cent of the state share.

According to Nikhil Gupta, chief economist at brokerage, the residential real estate sector has recovered strongly since the second half of FY21, and it continued to perform well in FY22. It performed better than expected. Given the large forward and backward links to the real economy, it has the potential to significantly boost GDP growth.

Agrasmartcity

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