Stamp Duty And Registration Dept Records Surge In Property Sale And Purchase In Pune and Pimpri Chinchwad
Pune 24th August 2023: The authorities have notices a surge in property transactions and real estate activities among the residents of Pune and Pimpri-Chinchwad in the last few months as a total revenue of around three thousand crore rupees has been deposited into the government’s treasury from these two cities in the first five months of the current financial year.
The Department of Registration and Stamp Duty has reported that this achievement of accumulating revenue has been realized in the first five months of the current economic year. This increase in revenue collection can be attributed to various significant projects such as the planned international airport in Purandar, metro expansion projects, and the construction of dual-lane roads, the officials noted. Additionally, advancements in the fields of information technology, industry, and employment opportunities have further contributed to the growth in property transactions in the Pune and Pimpri-Chinchwad regions.
The Department of Registration and Stamp Duty has registered a notable surge in property transactions in these cities from April 2023 to the present, with more than one lakh and six thousand registrations, resulting in a revenue collection of three thousand crore rupees. During the period from April to June 2023, a total of 69,589 property registrations were recorded, leading to a revenue collection of Rs 1,570.49 crore. In July, a revenue of Rs 873.26 crore was collected from 25,229 transactions, and in August 2023, the revenue collection surpassed 550 crore rupees from more than 20,000 transactions so far.
For the ongoing fiscal year, the state government has set a revenue target of 8,500 crore rupees for Pune and Pimpri-Chinchwad cities. The Department of Registration and Stamp Duty has successfully achieved a significant portion of this target, particularly within the first five months of the fiscal year.
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