Maharashtra Government’s Revenue Grew By Rs 367 Crore Amid 3% Stamp Duty Waiver

The Maharashtra authorities’s income from registration of paperwork rose by Rs 367 crore resulting from a 3 per cent waiver in stamp obligation between September and December 2020, a state minister mentioned on Friday. Speaking to PTI, Income Minister Balasaheb Thorat mentioned the stamp obligation waiver scheme, launched in September for 4 months until December 31, was geared toward reviving the development and actual property sectors, which have been in hassle as a result of coronavirus-induced lockdown and resultant financial downturn.

“The stamp obligation was six per cent in city areas and 5 per cent in rural areas, each of which have been introduced down by three per cent,” he mentioned. “In 4 months, the registration of paperwork rose by 4.11 lakh, or 48.73 per cent, giving the state exchequer larger income of Rs 367.73 crore, an increase of three.97 per cent,” he added.

The variety of paperwork registered throughout these 4 months was 12,56,224, up from 8,44,636 within the September- December interval in 2019, a rise of 4,11,588 paperwork, Thorat mentioned. “The income generated rose from Rs 9,254.9 crore on this interval final 12 months to Rs 9,622.63 crore in September- December this 12 months,” the minister mentioned. “There was an increase within the variety of registration of paperwork by 4,11,588 and improve in income by Rs 367.73 crore. The rise in variety of paperwork was 48.73 per cent, and the income rise was 3.97 per cent,” he mentioned.