Punjab revenue from stamp duty and registration fees going down
Slowdown in the real estate sector has badly affected Punjab’s revenue collection from stamp duty and registration fee.
There has been a decline of 15 per cent in receipts, compared to the same period in the previous financial year.
Property dealers have been badly affected due to the slowdown of market as deals have decreased. Property dealers are also of the view that the recent Punjab Cabinet’s decision of imposing cess on registration of land may also affect the market, which would result in lesser number of transactions.
Revenue collected from stamp duty and registration fee was Rs 1,373.68 crore during the April-August 2011 period, while the collection for the current financial year stood at Rs 1,168.57 crore.
Punjab, Punjab Cabinet, Real estate in India, Real Estate Industry, registration fees, Revenue collection, slowdown in the real estate sector, Stamp duty
its good if fees going down.