Maha property registrations & revenue drops by 60% due to Covid-19 curbs

24 May 2021 CW Team

Property registration officials told the media the drop in registrations alone for the first 45 days was about 65% as compared to March this year.

An official told the media, on average, Maharashtra would register 2.3 lakh property documents per month before the Covid-19 pandemic began, which generated around Rs 2,200 crore in revenue per month.

Around 1.34 lakh property documents were registered in April, leading to a revenue of Rs 845 crore, the official said, citing the data. In May, the registrations till May 19 stood at 49,775, which brought in Rs 666 crore in revenue, the official stated.

The state government restored the stamp duty to 6% throughout the state and 5% in Mumbai from April 1, which too has impacted the registrations, said potential buyers who were hoping the stamp duty waiver to be extended.

Maharashtra had slashed stamp duty charges to 3% between September 1, 2020, and December 2020 in a bid to boost real estate sales amidst the slowdown caused due to the first wave of Covid-19. The government then continued it with a 2% reduction from January- March in 2021.

According to data by the Inspector General of Registration (IGR), Maharashtra, the stamp duty cut period between September 2020 and March 2021 noted a growth of 114% in registrations against the same period last year, September 2019 to March 2020.

Prashant Thakur, Director and Head – Research, Anarock Property Consultants, told the media that despite the stamp duty cuts, the state government recorded almost the same volume of registration revenue as it did last year in the same period. According to Thakur, ever since the state government decided to slash the stamp duty cut starting April 1, there has been a drop in property registrations.

Image Source

Also read: Property registrations in Mumbai drop by 50% in April

Also read: Mumbai witnesses over 10,000 property registrations in April 2021

Also read: Maharashtra announces 50% off on housing premiums

Maharashtra has witnessed an almost 60% drop in property registrations and revenue in the first 45 days of the current financial year compared to pre-Covid average monthly registrations due to Covid-19 restrictions imposed by local authorities. Property registration officials told the media the drop in registrations alone for the first 45 days was about 65% as compared to March this year. An official told the media, on average, Maharashtra would register 2.3 lakh property documents per month before the Covid-19 pandemic began, which generated around Rs 2,200 crore in revenue per month. Around 1.34 lakh property documents were registered in April, leading to a revenue of Rs 845 crore, the official said, citing the data. In May, the registrations till May 19 stood at 49,775, which brought in Rs 666 crore in revenue, the official stated. The state government restored the stamp duty to 6% throughout the state and 5% in Mumbai from April 1, which too has impacted the registrations, said potential buyers who were hoping the stamp duty waiver to be extended. Maharashtra had slashed stamp duty charges to 3% between September 1, 2020, and December 2020 in a bid to boost real estate sales amidst the slowdown caused due to the first wave of Covid-19. The government then continued it with a 2% reduction from January- March in 2021. According to data by the Inspector General of Registration (IGR), Maharashtra, the stamp duty cut period between September 2020 and March 2021 noted a growth of 114% in registrations against the same period last year, September 2019 to March 2020. Prashant Thakur, Director and Head – Research, Anarock Property Consultants, told the media that despite the stamp duty cuts, the state government recorded almost the same volume of registration revenue as it did last year in the same period. According to Thakur, ever since the state government decided to slash the stamp duty cut starting April 1, there has been a drop in property registrations. Image SourceAlso read: Property registrations in Mumbai drop by 50% in April Also read: Mumbai witnesses over 10,000 property registrations in April 2021 Also read: Maharashtra announces 50% off on housing premiums

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Real Estate

17 Sep 2025

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Infrastructure Transport

17 Sep 2025

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..