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Maharashtra property revenue, registrations maximum in December this year
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Maharashtra property revenue, registrations maximum in December this year
Publish on : 2022-01-07 16:53:48
High-value property registrations have helped the state registration department garner this financial year’s highest revenue collection after October’s Rs3,220.61 crore, state property registration officials said on Friday. PUNE: After a slight dip in property registrations and revenue collection in November, Maharashtra witnessed a surge in the real estate sector in December with the last month of 2021 not only recording the highest registration of documents (3,31,460) for the 2021-2022 financial year but also mopping up the maximum revenue at Rs3,790.05 crore. High-value property registrations have helped the state registration department garner this financial year’s highest revenue collection after October’s Rs3,220.61 crore, state property registration officials said on Friday. State Inspector General of Registration and Stamps (IGR) Shravan Hardikar said, "We had limited working days in November, but we had generated Rs2,672 crore in the month. But December garnered the maximum revenue though there was no sops. This reflects well on the real estate sector,” He said, "After Dasara, there has been a steady rise in registrations with the concentration more on high-value property registrations in the middle- and high-income-group segments and land deals. This has continued.” Besides the encouraging revenue collection, there has also been a 30% rise in terms of registrations in December from the month before. "Last year, the collection had touched Rs4,000-Rs 6,000 crore due to the stamp duty waiver scheme. But there was no sop this financial year. The collection in December 2021 could well be by far the highest for a month, where there are no sops announced by the state government," Hardikar said. The maximum number of registrations was seen in the Mumbai and Pune metropolitan regions. Districts such as Raigad, Thane and Nashik also witnessed increased registrations, Hardikar said. State Confederation of Real Estate Developers Associations of India (Credai) president Sunil Furde told TOI that there was a consistent increase in registrations in the past few months.

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