Property stamp duty revenue Rs 1 lakh crore across 28 states in April-November

                The cumulative revenue collection from stamp duty and registration charges (SD&RCs) for all states in India was recorded at Rs 1 lakh crore for the first 8 months of the financial year2022 (April-November 2021), showed a
Motilal Oswal Financial Services study of the government data.

The total SD&RCs collection for the financial year 2021 was recorded at Rs 1.27 lakh crore. The average monthly SD&RCs collected by 28 states stood at Rs 12,500 crore in the first eight months of FY22, which was slightly lower than 
Rs 12,800 crore suggested by the pre-Covid growth trend (FY19-FY20). However, the average was higher than the monthly average of Rs 10,600 recorded in the year FY21, showed the stock brokerage firm’s study.

Maharashtra recorded the highest collection of Rs 17,100 crore contributing 17.1% of the total collection recorded during the first 8 months of FY22. Uttar Pradesh, Tamil Nadu and Karnataka registered Rs 12,800 crore, Rs 8,700 crore 
and Rs 8,400 crore respectively during the period.

“The residential real estate sector has bounced back strongly since 2HFY21 and it continues to perform well in FY22. In fact, it is doing better than anticipated. We hope that the Government provides some incentives to this
sector in the upcoming Budget. Considering its massive forward and backward linkages to the real economy, it has the potential to boost GDP growth substantially,” said Nikhil Gupta, Chief Economist, Motilal Oswal Financial
Services (MOFSL).

According to the study, Telangana, Sikkim and Jammu & Kashmir are the only states whose revenue collection for the first 8 month of FY22 have out past the revenue collection from SD&RCs achieved during FY’21. Telangana 
recorded SD&RCs collection of Rs 7,000 crore during the period against Rs 5,200 crore during FY '21 and Rs 6,700 crore in FY20. This also translated into an overall collection constituency increase from 4% in FY’21 to 7% in 
8MFY’22.


Source: The Economic Times