Realty revenue drops 30 pc

Dip in stamp duty, registration fee collection indicates sluggish recovery

Realty revenue drops 30 pc

Even new IT recruits who used to invest in property have become cautious. DH photo

For the State exchequer, revenue collection from property deals has taken a huge hit of 30 per cent during the first seven months of the 2009-10 fiscal. Despite a course correction by the realty sector following a reality bite since early 2009, revenue collection from the sale of stamp papers and document registration was severely dented, according to treasury figures accessed by this paper.

The document reveals that during April-October 2009-10, collection from stamp duty and registration fee was Rs 1,413.36 crore, a whopping 30 per cent lower than the actual collection of Rs 2,031.10 crore in the first seven months of 2008-09.

According to government records, during April to October 2009-10, collection from stamp duty and registration fee was Rs 1,413.36 crore, a whopping 30 per cent lower than the actual collections of Rs 2,031.10 crore in the first seven months of 2008-09. The figure this year was 31 per cent lower than the government’s target.


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