Pune registers record Revenue Collection from Property Registration

April 8, 2008	(Be the first to rate this story!)  Loading ...
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Despite the slowdown in the growth of real estate sector, the Pune district registered a record collection of Rs 1,392 crore from registrations and stamp paper duty of property agreements for 2007-08. This is an increase of 30.22 per cent, as against Rs 1,069 crore in 2006-07. However, the registration of properties was 2,97,785 in 2007-08 as against 2,82,068 in 2006-07, which is an increase of mere 5. 57 per cent as against 16.15 per cent the previous year.

The increase in revenue collection of 30.22 per cent against 16.15 per cent document registration is being attributed to the steep increase in the property price list of Ready Reckoner by the state government. The property list has a 30-40 per cent rise in price rates for all areas except the slum and gaothan areas where only a 10 per cent rise has been recorded from January 1.

“There has been a record revenue collection of Rs 1,392 crore from the registration of property documents in Pune district,” V M Maske, Deputy Inspector General of Registration and Deputy Controller of Stamps, Pune Division, said. There are 20 registration offices in Pune city and 17 in the rural area.

He said, “The Pune district is leading in the entire division with over Rs 1,392 crore of the total Rs 1613.08 crore revenue collection in Pune division.” The revenue collection from registration in Kolhapur district has been Rs 70.11, Solapur district is Rs 59.38 crore, Satara is Rs 51.55 crore and Sangli is Rs 40.15 crore.

News Published Under:   Real Estate India, Pune |

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