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Tag: Annual collection

Annual collection of West Bengal from stamp duty and registration charges recorded at INR 7,366.4 crores in FY22

According to a study by Motilal Oswal Financial Services Limited, the revenue collection from stamp duty and registration charges (SD&RCs) for West Bengal was recorded at INR 7,366.4 crores for FY22. This has recorded a surge of 33% from INR 5,527.6 crores in FY21. The state’s contribution to the overall revenue numbers was observed to be at 4%. The state’s average monthly revenue collection in FY22 was INR 613.8 crores as compared to INR 460.6 crores in FY21.

 

SD&RCs collection details of the other key states from the eastern part of the country:

  • Assam received revenue collection of INR 160.6 crores from SD&RCs in FY22
  • Tripura received revenue collection of INR 89.7 crores from SD&RCs in FY22
  • Sikkim received revenue collection of INR 23.4 crores from SD&RCs in FY22
  • Meghalaya received revenue collection of INR 21.5 crores from SD&RCs in FY22
  • Arunachal Pradesh received revenue collection of INR 12.5 crores from SD&RCs in FY22
  • Manipur received revenue collection of INR 8 crores from SD&RCs in FY22
  • Mizoram received revenue collection of INR 6.2 crores from SD&RCs in FY22
  • Nagaland received revenue collection of INR 3.4 crores from SD&RCs in FY22

 

According to Motilal Oswal Financial Services Limited, the cumulative revenue collection from stamp duty and registration charges (SD&RCs) from 27 states and one union territory (J&K) in India was recorded at INR 1,71,150.2 crores  for FY22. This has recorded a surge of 34%from INR 1,27,754.8 crores in FY21. The average monthly revenue collection in FY22 was INR 14,262.5 crores as compared to INR 10,646.2 crores in FY21.

From the aspect of absolute revenue figures,Maharashtra leads the table with highest collection of state revenue from SD&RCs at INR 35,593.7 crores. The state contributed 21% of the overall SD&RCs revenue of the country.

Uttar Pradesh is placed second with INR 20,048.3 crores revenue from SD&RCs with a contribution of 12% to the overall collection. Uttar Pradesh witnessed an increment of 22% in revenue from INR 16,475.2 crores in FY21. Tamil Nadu is placed third with INR 14,331 crores with 8% contribution to the overall revenue accrued by the country. The state witnessed 23% increase in revenue in FY22 from INR 11,675.1 crores in FY21.

Karnataka and Telangana are placed 4th and 5th on the SD&RCs table with revenue of INR 14,019.7 crores and INR 12,372.7 crores, respectively.

From the aspect of percentage growth in terms year-on-year, Telangana witnessed highest percentage increment of 136%, followed by J&K with 88%, Sikkim with 78%, Nagaland with 51%, Haryana with 47% and Gujarat with 41%.

Seven states namely, Telangana, J&K, Sikkim, Nagaland, Haryana, Gujarat and Maharashtra have recorded more than 40% increment in their revenue collection from SD&RCs.

Annexure: Stamp Duty and Registration Charges Collection across 27 states& one UT of India

State FY21
(INR crores)
FY22P
(INR crores)
↑/↓ in State Revenue(YoY) FY21
(% contribution to overall collection)
FY22
(% contribution to overall collection)
Maharashtra 25,427.7 35,593.7 40% 20% 21%
Uttar Pradesh 16,475.2 20,048.3 22% 13% 12%
Tamil Nadu 11,675.1 14,331 23% 9% 8%
Karnataka 10,576.4 14,019.7 33% 8% 8%
Telangana 5,243.3 12,372.7 136% 4% 7%
Gujarat 7,390.2 10,432.6 41% 6% 6%
Madhya Pradesh 6,816.5 8,098.4 19% 5% 5%
Haryana 5,157 7,598.5 47% 4% 4%
West Bengal 5,527.6 7,366.4 33% 4% 4%
Andhra Pradesh 5,603.3 6,566.2 17% 4% 4%
Rajasthan 5,297.3 6,491.9 23% 4% 4%
Bihar 4,206.3 5,224 24% 3% 3%
Kerala 3,489.6 4,857.3 39% 3% 3%
Punjab 2,469 3,308.4 34% 2% 2%
Odisha 2,942 2,418.6 -18% 2% 1%
Chhattisgarh 1,584.9 1,945.4 23% 1% 1%
Uttarakhand 1,107.2 1,488 34% 1% 1%
Jharkhand 708.1 987.3 39% 1% 1%
J&K 272.2 512 88% 0.2% 0.3%
Himachal Pradesh 253.4 318.6 26% 0.2% 0.2%
Assam 280.8 160.6 -43% 0.2% 0.1%
Tripura 69.5 89.7 29% 0.1% 0.1%
Sikkim 13.1 23.4 78% 0.0% 0.0%
Meghalaya 31.6 21.5 -32% 0.0% 0.0%
Arunachal Pradesh 10.5 12.5 19% 0.0% 0.0%
Manipur 8.7 8 -8% 0.0% 0.0%
Mizoram 5.8 6.2 7% 0.0% 0.0%
Nagaland 2.3 3.4 51% 0.0% 0.0%
Total 1,27,754.8 1,71,150.2      

Source:MotilalOswal Financial Services Ltd (MOFSL), CAG, CEIC
Note: For Andhra Pradesh, Assam, Meghalaya; Provisional data available up to Feb’22

According to Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services Ltd. said, “There is no doubt that 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 ~15%. 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.”