Gujarat real estate registrations doubled March ‘21 over March ‘20
Real Estate

Gujarat real estate registrations doubled March ‘21 over March ‘20

Property registrations in Gujarat have surged by a whopping 106% despite the adverse impact of the second wave of Covid on various industrial sectors.

Property document registrations surged to 106%, with 161,693 documents being registered across the state in March 2021, when Covid-19 cases began to shoot up. As against this, data compiled by the state's Inspector General of Registration and Superintendent of Stamps shows that in March 2020, property document registrations stood at 78,584.

A report by the real estate consultant Knight Frank India stated that sales of housing units in Ahmedabad increased 34% from 2,268 units in Q4 20 to 3,045 units in Q4 21━indicating a strong recovery.

Collection of stamp duty and registration fees by the state government jumped 146% to Rs 1,235 crore this March from Rs 501 crore during the same month last year. Both the number of documents and the state's revenues from the stamp duty and registration fees saw the year's highest growth in March.

Although there has been a steady growth in property registration and stamp duty collection on a month-on-month basis since September 2020, the market disruption in the first five months of 2020-21 due to the lockdown and the slowdown induced by the pandemic has spoiled the overall number of registration and stamp duty mop up for the full financial year.

Gujarat's income from the stamp duty and registration fees declined by 4% to Rs 7,364 crore in 2020-21 from Rs 7,697 crore in the pre-Covid period of 2019-20. Similarly, the number of documents registered stood at 11.48 lakh in 2020-21 as compared to 12 lakh in the previous fiscal.

Image Source


Also read: India’s real estate industry outlook: CARE Ratings

Also read: Real estate biggies recovering much faster: ICRA

Property registrations in Gujarat have surged by a whopping 106% despite the adverse impact of the second wave of Covid on various industrial sectors. Property document registrations surged to 106%, with 161,693 documents being registered across the state in March 2021, when Covid-19 cases began to shoot up. As against this, data compiled by the state's Inspector General of Registration and Superintendent of Stamps shows that in March 2020, property document registrations stood at 78,584. A report by the real estate consultant Knight Frank India stated that sales of housing units in Ahmedabad increased 34% from 2,268 units in Q4 20 to 3,045 units in Q4 21━indicating a strong recovery. Collection of stamp duty and registration fees by the state government jumped 146% to Rs 1,235 crore this March from Rs 501 crore during the same month last year. Both the number of documents and the state's revenues from the stamp duty and registration fees saw the year's highest growth in March. Although there has been a steady growth in property registration and stamp duty collection on a month-on-month basis since September 2020, the market disruption in the first five months of 2020-21 due to the lockdown and the slowdown induced by the pandemic has spoiled the overall number of registration and stamp duty mop up for the full financial year. Gujarat's income from the stamp duty and registration fees declined by 4% to Rs 7,364 crore in 2020-21 from Rs 7,697 crore in the pre-Covid period of 2019-20. Similarly, the number of documents registered stood at 11.48 lakh in 2020-21 as compared to 12 lakh in the previous fiscal. Image Source Also read: India’s real estate industry outlook: CARE Ratings Also read: Real estate biggies recovering much faster: ICRA

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?