Telangana Stamps department revenue up by 136 % 

Hyderabad: Telangana continues to dominate the country in various areas of economic activity, demolishing the myth created by BJP that the so-called ‘Double Engine’ growth model would work wonders for States. The youngest State, in its latest achievement, leads the country’s charts in Stamps Duty and Registration Charges (SD and RC) revenue collections, recording a staggering 136 per cent growth for the financial year 2021-22. No other State is anywhere close to Telangana’s growth barring Jammu and Kashmir which recorded the second highest growth rate of 88 per cent.

In sharp contrast, most of the BJP-ruled States that boast of having the advantage of ‘double engine growth model,’ failed to make any impression in SD and RC revenue collections, recording under 50 per cent growth rate. While Gujarat recorded 41 per cent, Karnataka 33 per cent, Uttar Pradesh 22 per cent, Haryana 47 per cent and Madhya Pradesh a mere 19 per cent.

These facts and figures were revealed by a study conducted by Motilal Oswal Financial Services Limited. According to the study, the SD&RCs revenue collection in Telangana was Rs.12,372 crore for the financial year 2022. This is a staggering increase of 136 per cent over the revenue collection of Rs.5,243 crore in the financial year 2020- 21. Telangana recorded the highest annual percentage growth and fifth highest in absolute revenue terms in the SD& RCs revenue in the country.

Telangana’s average monthly revenue collection in the financial year 2021-22 was Rs.103.1 crore as compared to Rs.43.69 crore during the financial 2020-21. Telangana contributed seven per cent to the overall revenue collections in the country. Interestingly, according to the study, more than the BJP-ruled States, North Eastern States and Jammu and Kashmir recorded higher growth rate among the 27 States and one union Territory.

In absolute revenue figures, Maharashtra leads the chart with highest collection of State revenue from SD&RCs at Rs.35,593 crore. The State contributed 21 per cent of the overall SD& RCs revenue of the country. Karnataka and Telangana are placed fourth and fifth on the SD&RCs table with revenues of Rs.14,019 crore and Rs.12,372 crore respectively.

Motilal Oswal Financial Services Limited Chief Economist Nikhil Gupta, in a statement, said: “Considering the fact that interest rates have bottomed out, fiscal incentives have expired, inflation is high and the economic uncertainty is also steep, 2021-22 performance in the residential property market is unlikely to be repeated next year.”