The whole income assortment from stamp responsibility and registration fees from 27 states and one union territory (Jammu & Kashmir) in India was recorded at Rs 1.7 lakh crore for the monetary yr 2021-22. This has recorded a surge of 34 per cent from Rs 1.28 lakh crore within the earlier monetary yr. The common month-to-month income assortment in FY22 was Rs 14,262.5 crore as in comparison with Rs 10,646.2 crore in FY21, in line with a report by Motilal Oswal Monetary Providers.
Maharashtra collected the best stamp responsibility and registration fees at Rs 35,593.7 crore throughout 2021-22. The state contributed 21 per cent of the nation’s general stamp responsibility and registration fees income.
Uttar Pradesh was positioned second with Rs 20,048.3 crore income from stamp responsibility and registration fees with a contribution of 12 per cent to the general assortment. The state witnessed an increment of twenty-two per cent in income from Rs 16,475.2 crore in FY21. Tamil Nadu comes third with Rs 14,331 crore with an 8 per cent contribution to the general income accrued by the nation. The state witnessed a 23 per cent enhance in income in FY22 from Rs 11,675.1 crore in FY21.
Karnataka and Telangana stood 4th and fifth on the stamp responsibility and registration fees desk with income of Rs 14,019.7 crore and Rs 12,372.7 crore, respectively.
Nikhil Gupta, chief economist, Motilal Oswal Monetary Providers, stated, “There isn’t any doubt that the residential actual property sector witnessed a outstanding revival in FY22. Nonetheless, you will need to notice that the typical development within the final two years was 15 per cent. Contemplating the information that rates of interest have bottomed out, fiscal incentives have expired, inflation is excessive and the financial uncertainty can be steep, FY22 efficiency within the residential property market is unlikely to be repeated subsequent yr.”
By way of development in share phrases, Telangana witnessed highest share increment of 136 per cent year-on-year, adopted by J&Okay with 88 per cent, Sikkim with 78 per cent, Nagaland with 51 per cent, Haryana with 47 per cent and Gujarat with 41 per cent.
Seven states particularly, Telangana, J&Okay, Sikkim, Nagaland, Haryana, Gujarat and Maharashtra have recorded greater than 40% increment of their income assortment from stamp responsibility and registration fees.
Lately, in the true property, a report by actual property marketing consultant Knight Frank India stated Mumbai witnessed a leap of 78 per cent in property sale registrations throughout Could to 9,523 models, which is one of the best in a decade. It contributed over Rs 709 crore to the state revenues. Half of the registrations had been within the worth vary of Rs 1 crore and above, whereas the condo dimension ranged between 500-1,000 sq. toes was essentially the most most well-liked amongst consumers.
“A complete of 54 per cent registrations had been within the worth band of Rs 1 crore and over; whereas by way of condo dimension, properties ranging between 500-1,000 sq ft had been essentially the most most well-liked class of property registered in Could 2022,” Knight Frank India stated.