Revenue generated from registration of documents in Mumbai in March stood at Rs 377.13 crore. In April it came down to Rs 43,547.
By Varun Singh
The treasury of state of government has suffered a major blow in the month of April. Mumbai contributed Rs 377,13,51,375 from registration of documents in the month of March. The figure came down to Rs 43,547 in April.
The revenue from registration of documents in April was a mere 0.001% when compared to the collection in March.
In April only a total of 27 documents were registered with the stamp duty and registration offices in Mumbai. The figure stood at 25,170 documents being registered in the month of March.
All the 27 documents that were registered with the stamp duty office in April were leave and license documents. These were registered via e-registration and generated a revenue of Rs 43,547.
In March 12,907 leave and license documents were registered via e-registration. These document registration generated a revenue of Rs 1.91 crore.
In February the figure of e-registration of leave and license documents stood at 16,767 and the revenue generated was Rs 2.45 crore.
The total revenue generated in February is way above Rs 470 crore from registration of documents in Mumbai.
The types of documents that are registered with the registration office includes, leave and license both e-registration and physical, conveyance deed, sale agreement, mortgage deed, gift deed, and many others.
However, post the lockdown due to Covid 19, that came into force in the last week of March, the month of April saw only e-registration of leave and license documents.
A real estate broker said, “There has to be transaction in real estate so that it can be registered, the market is so bad that there are hardly any deals taking place. People aren’t coming out of their homes, forget buying a property. Everything is on hold, post lockdown we expect things to change.”