Leave and license agreements registered in Mumbai in the first four months stand at 57,972. Of this, 45,867 were registered online, while 12,107 physically.
By Varun Singh
More and more people are opting for e-registration of their leave and license agreements than physically registering them.
In the first four months of 2020, a total of 57,972 leave and license agreements were registered in Mumbai.
Data available from the Registration and Stamp duty office shows a spike in e-registration compared to physical registration.
Mumbai preferred e-registration 3.7 times over physical registration of leave and license agreement.
Also Read: Physical registration of leave and license agreement stopped till end of July
In January 16,164 leave and license agreements were registered via e-registration. While only 5,008 rent agreements were registered physically.
In February total e-registration of leave and license agreement stood at 16,767, while physical was 4,264.
Similarly in March 12,907 leave and license agreements were registered online, while 2,835 were physically registered.
In April all the documents registered were online and it stood at a figure of 27.
Thus a huge number of 45,865 leave and license agreements were registered online, while 12,107 were physically registered.
However, while online registration gave a revenue of mere Rs 6.6 core in four months. The revenue from physical registration of leave and license registration stood at Rs 16.97 crore.
Adv Prakkash Rohira said, “Online registration of leave and license agreement has a set format, hence many prefer it. Also it can be done on weekends and holidays. Whereas larger transactions with customized clauses are physically registered and revenue generated is huge too.”
Conveyance (sales) registration is the highest revenue generator for the registration and stamp duty office. In Mumbai, a total of 15,875 Conveyance (sales) agreement were registered in the first four months. They generated a revenue of Rs 1,195 crore and more.
In the month of January a total of 6150 Conveyance (sales) agreement were registered in Mumbai, it generated a revenue of Rs 454 crore.
In February the revenue stood at Rs 437 crore after 5,927 Conveyance (sales) agreement were registered in the city.
In March 3,798 Conveyance (sales) documents were registered generating a revenue of Rs 304 crore.
April saw no registration or Conveyance (sales) registration in Mumbai.
Stamp duty and registration is amongst the top revenue generator for the state o Maharashtra. The lockdown in the city and state has impacted the collection of stamp duty and registration too.
The collection fell to 0.001% in April from what it was in March. In April Mumbai generated a revenue of Rs 43,547 crore, compared to Rs 377 crore generated in March.
Also Read: Revenue from registration in Mumbai falls to 0.001% in April from March
