Telangana Revenue collection from stamp duty records 48 percent jump
Hyderabad: Revenue collection from stamp duty and registration charges (SD&RCs) for Telangana has been recorded at Rs.7,213 crore during April to September this financial year, a 48 per cent increase from the Rs 4,900 crore collected in the corresponding period the previous fiscal, according to a study by Motilal Oswal Financial Services Limited. The average […]
Hyderabad: Revenue collection from stamp duty and registration charges (SD&RCs) for Telangana has been recorded at Rs.7,213 crore during April to September this financial year, a 48 per cent increase from the Rs 4,900 crore collected in the corresponding period the previous fiscal, according to a study by Motilal Oswal Financial Services Limited.
The average monthly revenue collection from April to September this financial year was Rs 1,202 crore as compared to Rs 817 crore corresponding period the previous year, suggesting a substantial increase in home buying this year. The State contributed 8 per cent to the overall revenue collections in the country.
“The residential real estate sector has performed superbly over the past 18-24 months and continues to do well right up to March 2023,” said Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services Ltd.
From the aspect of percentage growth in terms year-on-year, the State witnessed the growth of 48 per cent over last year.
According to Gupta, the sector may see some headwinds in the coming quarters. Add to that the real possibility of a global recession next year and the real estate sector may be in for some slowdown. Headwinds are the factors or events that slow down growth or cause negative effects on profits and revenue.
The country’s total collection from stamp duty and registration charges was recorded at Rs 94,847 crore from April to September of this financial year. While Maharashtra collected Rs 18,600 crore from SD&RCs, Uttar Pradesh collected Rs 12,394 crore followed by Tamil Nadu (Rs 8,662 crore), and Karnataka (Rs 8,229 crore).
