Robust property sales across the country is helping state governments fetch higher revenues through collections of stamp duty charges, although impact of recent rate increases remains a overhang on long-term momentum.

Cumulative revenue collection from stamp duty and registration charges (SD&RCs) from 27 states and one union territory of Jammu & Kashmir was recorded in excess ₹1.71 lakh crore during the financial year 2021-22, up 34% from a year ago, showed data analysed by


The average monthly revenue collection across these states and union territories during the financial year rose to ₹14,262 crore as compared with ₹10,646 crore in the previous year.

From the aspect of absolute revenue figures, Maharashtra led the tally with the highest collection of state revenue from stamp duty and registration charges (SD&RCs) at ₹35,593 crore. The state, which includes India’s largest and most expensive property markets of Mumbai and Pune, contributed 21% of the overall SD & RCs revenue of the country.

“There is no doubt that the residential real estate sector witnessed a remarkable revival in FY22. Still, it is important to note that the average growth in the last two years was nearly 15%. Considering the fact that interest rates have bottomed out, fiscal incentives have expired, inflation is high and the economic uncertainty is also steep, FY22’s 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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