Maharashtra’s Registration and Stamp Duty Department has had a remarkable eight months, collecting a whopping ₹33,000 crores in revenue from 16.66 lakh document registrations. This achievement, covering the period from April to November, highlights the state’s bustling property market, especially in urban areas.

The state government had set a revenue target of ₹55,000 crores for the department, with 60% of this target already achieved. The revenue primarily comes from stamp duties on various documents such as property sales, agreements, gift deeds, and rental contracts.

The rapid urbanization in cities like Pune, Mumbai, Thane, Nagpur, and Nashik has been a driving factor behind this revenue growth. The surrounding suburban regions have also seen an increase in property transactions, leading to a rise in document registrations.

One of the key factors that has kept the property market buoyant is the state government’s decision not to raise Ready Reckoner rates. This has encouraged continuous buying and selling of properties, resulting in higher registration numbers.

The revenue collected is essential for funding Maharashtra’s infrastructure and development projects, including roads, metro systems, and irrigation schemes. The monthly breakdown of document registrations and revenue collected shows a steady increase from April to November.

With the department achieving 60% of its revenue target in just eight months, Maharashtra’s property market is thriving. The stable property market and urbanization trends have boosted document registrations, providing vital funds for the state’s development projects.

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