Mumbai city has generated a stamp duty revenue for the state government to the tune of Rs 1k crore, in 28 days of February. This is for the first time in the Financial year 2022-23 that the stamp duty collection has breached the Rs 1k crore mark.
The last time, Rs 1k crore revenue via stamp duty was generated was the month of March 2022, where 17,726 home sales were registered generating a revenue of Rs 1.1k crore.
In February 2023 the number of home sales till noon of February 28, crossed the 9,333 mark, which is more than the home sale registrations in the 31 days of January.
Lets have a look at the number of home sale registration in the months of Financial year 2022-23.
A total of 9,001 home sale registrations took place in January, and Rs 691 crore stamp duty revenue was generated.
In December total registrations was at 9,367, whereas the revenue generated was Rs 835 crore.
In November 8,965 home sale registrations took place, generating a revenue of Rs 683 crore.
October saw 8,421 registrations generating a revenue of Rs 723 crore.
September witnessed 8,628 registrations generating Rs 734 crore as revenue from stamp duty.
August saw 8,552 registrations, revenue generated was Rs 643 crore.
July saw 11,340 registrations, revenue generated was Rs 828 crore.
June saw 9,919 registrations, revenue generated was Rs 728 crore.
May saw 9,838 registrations, revenue generated was Rs 726 crore.
April saw 11,743 registrations, revenue generated was Rs 737 crore.
In February 2022, 10,379 registrations took place, and revenue generated from stamp duty was Rs 614 crore
Thus in the entire financial year of the 2022-23 February became the first month that managed to breach the Rs 1k crore collection.
It should be noted that it was in February when D Mart owner Radhakishan Damani, his immediate family and close associates purchased 28 units in a bulk deal at discounted rates in Oberoi Realty’s luxury project Three Sixty West at Worli for a total of Rs 1,238 crore
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