TS records stamp duty collection at Rs 70bn
Motilal Oswal Financial Services Ltd (MOFSL) in a study said that the revenue collection from stamp duty and registration charges (SD&RCs) for Telangana recorded at Rs 70bn in 8 months of FY22 against Rs 52bn during FY21.
Hyderabad: Motilal Oswal Financial Services Ltd (MOFSL) in a study said that the revenue collection from stamp duty and registration charges (SD&RCs) for Telangana recorded at Rs 70bn in 8 months of FY22 against Rs 52bn during FY21. The overall collection contribution increased from 4 per cent in FY21 to 7 per cent in 8 months of FY22. AP recorded SD&RCs collection of Rs 46bn in 8 months of FY22 against Rs 56b during FY21 with the overall collection contribution increased from 4.4 per cent in FY21 to 4.6 per cent in 8 months of FY22.
The study said, SD&RCs for all states in India was recorded at Rs 1,001bn for 8 months of FY22 (April-November 2021). The total SD&RCs collection for FY21 was recorded at Rs 1,277bn. The average monthly SD&RCs collected by 28 states stood at Rs 125bn in the 8MFY22, which was slightly lower than Rs 128bn suggested by the pre-Covid growth trend (FY19-FY20).
According to MOFSL study, Telangana, Sikkim and Jammu & Kashmir are the only states whose revenue collection for 8MFY22 has out past the revenue collection from SD&RCs achieved during FY21.
Maharashtra recorded the highest collection of Rs 171bn contributing 17.1 per cent of the total collection recorded during 8MFY22. Uttar Pradesh, Tamil Nadu and Karnataka registered Rs 128bn, Rs 87bn and Rs 84bn respectively during 8 months of FY22.
Nikhil Gupta, Chief Economist, MOFSL, said: "The residential real estate sector has bounced back since 2HFY21 and it continues to perform well in FY22. Considering its massive forward and backward linkages to the real economy, it has the potential to boost GDP growth substantially."
