Maharashtra records 93% property registration revenue hike in July

24 Aug 2021 CW Team

Maharashtra state registration department had achieved 93% revenue growth this year in July, similar to the pre-pandemic revenue target in July 2019.

Inspector-in-general of registration and controller of stamps, Shravan Hardikar, said it is a good sign to achieve the 2019 target this year. The total revenue generated by the registration department in July 2021 is Rs 2,411.8 crore, compared to Rs 2,594.2 crore in July 2019.

Around 1.7 lakh documents have been registered in July 2021, compared to 2.6 lakh documents in July 2019, but the total revenue is 7% less.

Maharashtra government had recorded four years of high registrations and revenue collection last year in November and December because of the stamp duty waiver. According to the realty experts, citizens availed themselves of the stamp duty waiver from September to December and then from January to March, which may have affected the actual transaction value. According to a property expert, big project registrations might have happened in July, which helped in increasing the revenue.

Officials from the property registration department said that low-value sales were affected, and due to the second wave of the Covid-19 pandemic, low-cost housing projects were not getting many registrations. An official said that a few big housing projects and more land transactions might have brought more revenue to the department.

Vice President of Confederation of Real Estate Developers Associations of India (CREDAI), Shantilal Kataria, told the media that there were more sales in July, but the actual registrations may have been affected due to rain and flood in many places. He further said that the department is expecting more project announcements, the Unified Development Control and Promotion Regulations (DCR), developers will change the plans then, and the registrations will be slowly picked up.

Image Source

Also read: New Delhi residential prices drop 0.2% YoY: Knight Frank report

Maharashtra state registration department had achieved 93% revenue growth this year in July, similar to the pre-pandemic revenue target in July 2019. Inspector-in-general of registration and controller of stamps, Shravan Hardikar, said it is a good sign to achieve the 2019 target this year. The total revenue generated by the registration department in July 2021 is Rs 2,411.8 crore, compared to Rs 2,594.2 crore in July 2019. Around 1.7 lakh documents have been registered in July 2021, compared to 2.6 lakh documents in July 2019, but the total revenue is 7% less. Maharashtra government had recorded four years of high registrations and revenue collection last year in November and December because of the stamp duty waiver. According to the realty experts, citizens availed themselves of the stamp duty waiver from September to December and then from January to March, which may have affected the actual transaction value. According to a property expert, big project registrations might have happened in July, which helped in increasing the revenue. Officials from the property registration department said that low-value sales were affected, and due to the second wave of the Covid-19 pandemic, low-cost housing projects were not getting many registrations. An official said that a few big housing projects and more land transactions might have brought more revenue to the department. Vice President of Confederation of Real Estate Developers Associations of India (CREDAI), Shantilal Kataria, told the media that there were more sales in July, but the actual registrations may have been affected due to rain and flood in many places. He further said that the department is expecting more project announcements, the Unified Development Control and Promotion Regulations (DCR), developers will change the plans then, and the registrations will be slowly picked up. Image Source Also read: New Delhi residential prices drop 0.2% YoY: Knight Frank report

Infrastructure Urban

29 Oct 2025

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Real Estate

29 Oct 2025

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Infrastructure Transport

29 Oct 2025

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..