Stamp duty and registration fee revenue exceed Rs 1 lakh
According to a report, the cumulative revenue collection from stamp duty and registration fee of all states increased to Rs 1,00,100 crore for the first eight months of the current fiscal year, from Rs 1,27,700 crore for the entire FY21.
According to a Motilal Oswal Financial Services analysis of state-by-state data. The average monthly collection by 28 states was Rs 12,500 crore during the reporting period of April-November 2021. W hich is slightly lower than Rs 12,800 crore in pre-pandemic days. However, the monthly average is higher than the Rs 10,600 crore recorded in FY21.
The report did not provide a comparable figure for the same eight-month period in FY21 when the pandemic struck the country.
According to the analysis, Maharashtra recorded the highest collection of Rs 17,097 crore, accounting for 17.1% of total supply 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.
In FY21, Maharashtra collected Rs 25,427 crore, or 19.9% of the national total. Followed by Uttar Pradesh at Rs 16,475 crore, or 12.9% of the total, Tamil Nadu at Rs 11,675 crore, or 9.1%. Karnataka at Rs 10,576 crore, or 8.3%, Telangana at Rs 5,243 crore, or 4.1%, Gujarat at Rs 7,390 crore, or 5.8%, and Haryana at Rs 5,157 crore, or 4%.
In FY21, Madhya Pradesh received Rs 6,760 crore or 5.3 percent of the national mop-up. Bengal received Rs 5,527.6 crore or 4.3 percent, Andhra Pradesh received Rs 5,603.3 crore or 4.4 percent. Rajasthan received Rs 5,297.3 crore or 4.1 percent, Bihar received Rs 4,206.3 crore or 3.3 percent. Kerala received Rs 3,489.6 crore or 2.7 percent.
Other states collected less than Rs 3,000 crore or less than 3% of the national total.
According to Nikhil Gupta, the brokerage’s chief economist. The residential real estate sector has recovered strongly since the 2nd half of FY21 and is expected to perform well in FY22. As a result, it is performing better than expected. Moreover, given its extensive forward and backward linkages to the real economy. It has the potential to boost GDP growth significantly.
