Registry in Maharashtra, MP and Chhattisgarh increased, registration revenue boom

The benefit of the reduction in stamp duty of the registry of houses has started showing. Property registration in Maharashtra increased drastically in the December quarter. This gave the government revenue of Rs 9,622.63 crore. This is Rs 367 crore more than the stamp duty achieved in the December quarter of 2019.

Stamp fee was reduced by three percent

The Maharashtra government had reduced stamp duty in cities from September to December 2020. From January to the end of March this year, stamp duty will be one percent higher, i.e. four percent. The step of reduction in stamp duty has been taken to give a boost to the real estate sector.

Registration fee was reduced by 2% in MP

The Government of Madhya Pradesh had also taken steps to promote the purchase of property here. He had reduced the stamp duty by 2% till 31 December 2020. This reduced the total cost of the registry from 12.5% to 10.5%. Earlier there was a stamp duty of 9.5% and a registration charge of 3% (12.5% of the total).

Registry is up 30% in Chhattisgarh

In Chhattisgarh, there has been an increase in the registry of houses and stamp duty collection. According to registry data, there were 18,926 registries there in November 2020. This is 30% higher than November 2019. That year there were 14,510 registries.

118 crore revenue, 26% increase

The Chhattisgarh government received revenue of Rs 117 crore 99 lakh in November 2020 from the registry of houses. This amount received by the government is 26% more than in November 2019. The government received a stamp duty of Rs 93 crore 42 lakh on the registry in November 2019.