Under Maharashtra’s leadership, the cumulative collection of revenues from stamp duty and registration duties from all states jumped to Rs 1,000,100 crore for the first eight months of the current fiscal year, which was Rs 1,27,700 crore for the entire FY21, according to a report.
An analysis of state-by-state data by Motilal Oswal Financial Services showed that the average monthly collection by 28 states was Rs 12,500 crore during the reporting period of April-November 2021, which is slightly lower than Rs 12,800 crore in the pre-pandemic days. But the monthly average is above Rs 10,600 crore registered in FY21.
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The report did not provide a comparative figure for the same eight-month period of FY21 when the country was hit by the pandemic.
Thanks to Mumbai and Pune, Maharashtra registered the highest collection of Rs 17,097 crore, accounting for 17.1 percent 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 core, respectively, according to the analysis.
In FY21 Maharashtra’s collection amounted to Rs 25,427 crore or 19.9 percent of the national total, followed by Uttar Pradesh at Rs 16,475 crore or 12.9 percent of the total, Tamil Nadu Rs 11,675 crore or 9.1 percent, Karnataka 10,576 crore or 8.3 percent, Telangana Rs 5,243 crore or 4.1 percent, Gujarat 7,390 crore or 5.8 percent, Haryana 5,157 or 4 percent.
Madhya Pradesh collected 6,760 crore or 5.3 percent of the national mop-up in FY21, Bengal Rs 5,527.6 crore or 4.3 percent, Andhra Pradesh at 5,603.3 crore or 4.4 percent, Rajasthan Rs 5,297.3 crore or 4.1 percent, Bihar Rs 4,206.3 crore or 3.3 percent, and Kerala Rs 3,489.6 crore or 2.7 percent.
Other states had collections of less than Rs 3,000 crore or less than 3 percent of the national share.
According to Nikhil Gupta, the brokerage chief economist, the residential real estate sector has recovered strongly since the second half of FY21 and continues to perform well in FY22. In fact, it’s going better than expected. Given its huge forward and backward links to the real economy, it has the potential to significantly boost GDP growth.
This post Stamp duty, mop registration fee crosses Rs 1 lakh cr in 8 months of FY22 : Report
was original published at “https://www.zeebiz.com/india/news-stamp-duty-registration-fee-mop-up-crosses-rs-1-lakh-cr-in-8-months-of-fy22-report-181190”