Stamp duty collection in Maharashtra declines 17% in Oct-Nov
Real Estate

Stamp duty collection in Maharashtra declines 17% in Oct-Nov

During October and November, the stamp duty collection in Maharashtra declined by 17%, resulting in a decline in real estate transactions of Rs 548 crore.

According to data, the stamp duty and registration fee dropped by Rs 3,220 crore in October and Rs 2,672 crore in November.

In FY22, October witnessed the highest revenue collection. Officials said that the decline in November was expected, following the average revenue collection in the rest of the month.

During November, the real estate transactions had increased steadily. In 2020, the country's economy was hit by the Covid-19 pandemic lockdowns, which decreased sales. However, the reduction in stamp duty resulted in a turnaround. The real estate transactions were higher this year than the previous year.

Between April to November, Maharashtra collected stamp duty and registration fees worth Rs 17,332.5 crore, about 69% more than the revenue collected during the same period last year of Rs 10,270 crore.

Former President of the Maharashtra Chamber of Housing Industry, Nayan Shah, said that sales in the real estate sector have improved since 2020, with economic improvement, but getting home loans is still a challenge. Housing loans take time to get cleared because people have to address the pending loans first.

In April, the revenue generated from stamp duty and registrations in Maharashtra was Rs 845 crore. It increased to Rs 1,157 crore in May, to Rs 1,831 crore in June and Rs 2,411 crore in July. It further increased to Rs 2,537 crore in August, Rs 2,654 crore in September and Rs 3,220 crore in October, which is the highest since April, resulting in increased sales and housing demand.

Image Source

Also read: West Bengal extends stamp duty, circle rate reductions till Dec 31
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

During October and November, the stamp duty collection in Maharashtra declined by 17%, resulting in a decline in real estate transactions of Rs 548 crore. According to data, the stamp duty and registration fee dropped by Rs 3,220 crore in October and Rs 2,672 crore in November. In FY22, October witnessed the highest revenue collection. Officials said that the decline in November was expected, following the average revenue collection in the rest of the month. During November, the real estate transactions had increased steadily. In 2020, the country's economy was hit by the Covid-19 pandemic lockdowns, which decreased sales. However, the reduction in stamp duty resulted in a turnaround. The real estate transactions were higher this year than the previous year. Between April to November, Maharashtra collected stamp duty and registration fees worth Rs 17,332.5 crore, about 69% more than the revenue collected during the same period last year of Rs 10,270 crore. Former President of the Maharashtra Chamber of Housing Industry, Nayan Shah, said that sales in the real estate sector have improved since 2020, with economic improvement, but getting home loans is still a challenge. Housing loans take time to get cleared because people have to address the pending loans first. In April, the revenue generated from stamp duty and registrations in Maharashtra was Rs 845 crore. It increased to Rs 1,157 crore in May, to Rs 1,831 crore in June and Rs 2,411 crore in July. It further increased to Rs 2,537 crore in August, Rs 2,654 crore in September and Rs 3,220 crore in October, which is the highest since April, resulting in increased sales and housing demand. Image Source Also read: West Bengal extends stamp duty, circle rate reductions till Dec 31

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000