Stamp duty collection up by 4 per cent in a year

Stamp duty collection has gone up by over 4 per cent in the 11-month period after the Congress came to power.Increase in 4 percent is to be a good news for real estate sector.In another way can say that it is an auspicious sign for realty sector. Calling it a sign of revival of the realty sector, Additional Chief Secretary-cum-Financial Commissioner, Revenue, Housing and Urban Development, Vini Mahajan, told The Tribune here today that the state’s stamp duty and property registration fee collection from April 2017 to February this year was Rs 1,922 crore, an increase of Rs 79 crore over the amount collected (Rs 1,843 crore) from April 2016 to February 2017. The state earned Rs 153 crore from stamp duty and property registration fee in February, Rs 32 crore more than the collection made in February 2017. Bathinda district topped the chart with an increase of 115.73 per cent — from Rs 89 lakh in February last year to Rs 1.92 crore last month. This February, e-stamping collections reached Rs 123.99 crore, almost 26 per cent more than Rs 98.53 crore collected in February 2017. The three e-auctions conducted so far have fetched Rs 829 crore by selling properties in various cities. The fourth one is underway since March 5. Revenue collections rose despite the reduction in stamp duty from 9 per cent to 6 per cent since August 2017. “This concession will continue till March 31, 2019,” Mahajan added. Source: The Tribune

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