Mumbai city in the month of March generated over ₹1k crore from stamp duty and registration by sale of homes in the city. This is the highest in Financial Year 2021-22.
By Varun Singh
Mumbai city has generated the highest revenue for the stamp duty office in the entire financial year of 2021-22.
The revenue generated has crossed the mark of ₹1k crore with over 16k registrations.
Before we go to the figures of March let’s see how did the other months of this financial year perform.
Let’s start with April 2021, in the first month of FY-2021-22 a total of 10,135 sales were registered generating ₹514 crore.
In May the impact of COVID 19 second wave was clearly visible where only 5,360 sales were registered generating only ₹268 crore.
June month saw a total of 7,856 home sales registration with a revenue generation for the stamp duty office worth ₹420 crore.
July was better, where 9,822 sales got registered the revenue generated was ₹566 crore.
August, September, and October saw 6,784, 7,804, and 8,576 sale registration while revenue generated was ₹420 crore, ₹529 crore, ₹550 crore respectively.
November saw a dip compared to October where 7,582 sales were registered in the month generating a revenue of ₹549 crore.
December month generated a revenue of ₹758 crore via 9,681 sales.
January saw 8,155 sales generating a revenue of ₹478 crore.
February till date has performed the best when it comes to sales registration in the entire FY 21-22. A total of 10,379 sales were registered in February generating a revenue of ₹614 crore.
By the end of the financial Mumbai witnessed over 16,726 which generated over ₹1,160 crore.
This is the highest revenue generated in the entire financial year 2021-22.
There’s a rush amongst homebuyers to register their sales for a reason. Starting April the stamp duty is set to see a hike. Plus the metro infrastructure cess which builders have already indicated will have an impact on the real estate industry.
However, for the stamp duty office it is a good news that it has seen over ₹1k crore in form of revenue from the stamp duty and registration in the month of March from Mumbai.
Also Read: Stamp Duty extension to boost Real Estate
