Mumbai: Telangana saw the highest percentage rise in collection of stamp duty and registration (SD&R) charges at 136 per cent in financial year 2021-22 among 27 states and a Union Territory. The SD&C collection in Telangana rose to Rs 12,372 crore 22 from Rs 5,243.3 crore in FY 21 in FY22.
“The cumulative revenue collection was recorded at Rs 1,71,150.2 crore, recording a surge of 34 per cent from Rs 1,27,754.8 crore in FY21,” a study by Motilal Oswal Financial Services said.
Maharashtra led the table with the highest collection at Rs 35,593.7 crore, up 40 per cent. It contributed 21per cent of the overall SD&R revenue of the country.
Uttar Pradesh was second with Rs 20,048.3 crore revenue, 12 per cent to the overall collection. Tamil Nadu came third with Rs 14,331, Karnataka and Telangana were placed fourth and fifth with revenue of Rs 14,019.7 crore and Rs 12,372.7 crore, respectively.
“From the aspect of percentage growth year-on-year, Telangana witnessed highest percentage increment of 136 per cent, followed by J&K with 88 per cent, Sikkim (78 per cent), Nagaland (51 per cent), Haryana( 47 per cent) and Gujarat (41 per cent). Seven states namely, Telangana, J&K, Sikkim, Nagaland, Haryana, Gujarat and Maharashtra have recorded more than 40 per cent increment in their revenue collection from SD&RCs,” the study said.
“The residential real estate sector witnessed remarkable revival in FY22. Still, it is important to note that the average growth in the last two years was around 15 per cent. Considering the facts that interest rates have bottomed out, fiscal incentives have expired, inflation is high and the economic uncertainty is also steep, FY22 performance in the residential property market is unlikely to be repeated next year,” said Nikhil Gupta, chief economist, Motilal Oswal Financial Services.
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